Bitcoin ETFs captured over 4% of BTC supply in Q1

Meanwhile, on the macro level, the Bitcoin-Ether ratio, an indicator that compares the prices of the two largest tokens, has reached a three-year high, potentially signaling a waning risk appetite in the crypto market. Analysts view this ratio as an early warning sign of sentiment shifting from FOMO to fear, with Ether acting as a proxy for smaller tokens. Cooling demand for ETFs and the upcoming Bitcoin halving event have also contributed to market uncertainty.

Another recent development involves Ripple, which has revealed its plans to launch a dollar-pegged stablecoin later this year, deployed on the XRP Ledger and the Ethereum blockchain. Aside from these two initial deployments, Ripple said it also wants to expand this to other blockchains and DeFi platforms. Ripple aims to address the growing demand for stablecoins with a compliant and trusted solution, targeting institutions seeking large-scale payment integration in the rapidly expanding stablecoin market.

• Bitcoin ETFs captured over 4% of BTC supply in Q1: IntoTheBlock
• Bitcoin-Ether ratio flashes potential warning about crypto rally
• Ripple to debut a dollar-pegged stablecoin on XRP Ledger and Ethereum this year

Data powered by CoinGecko.

Bitcoin ETFs captured over 4% of BTC supply in Q1: IntoTheBlock

Bitcoin ETFs have rapidly absorbed over 4% of the total BTC supply in less than three months, following the SEC’s approval of several spot Bitcoin ETFs and the transformation of the Grayscale Bitcoin Trust (GBTC) into an ETF. This development has profoundly influenced the market, with addresses holding at least 1,000 BTC…