Investors 'Over-indexed' on Short-Term Impacts of Spot Bitcoin ETFs: Coinbase Institutional

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. It's time now to take a look at the chart of the day. Excitement has been high across the crypto industry since the SEC approved 11 spot, Bitcoin ETF S in the United States. But data shows that us based ETF S make up only 10 to 15% of the total Bitcoin spot trading volume across global centralized exchanges and only 3% of outstanding Bitcoin supply, which is around 650,000 Bitcoin. This is why a report from Coinbase. Institutional believes institutional investors have over indexed the short term impacts of these products and quote market players may be missing out on other opportunities and themes that could be relevant in the post spot Bitcoin ETF environment and quote. The report says quote base institutional believes the search for yield will rejuvenate interest in defi in 2024 and that there's room for to play catch up to its peers in the first half of the year. That's rap for today's chart of the day. I'm Jen Sani and we'll see you next time. To pack more of the data behind top news stories.