From Harvard to Japan! – How 2 major ETF moves could impact Bitcoin
Main Idea
Bitcoin's recent rally is driven by a supply squeeze rather than fresh demand, while institutional interest grows with Harvard's $116M Bitcoin ETF investment, and Japan's first crypto ETF remains delayed.
Key Points
1. Bitcoin's price rise is attributed to a lack of sell-side liquidity rather than new demand, with thin order books potentially pushing prices higher if supply remains tight.
2. Harvard University invested $116.6 million in BlackRock's IBIT Bitcoin ETF, making it the university's fifth-largest equity holding and its only direct Web3 exposure.
3. Japan's first crypto ETF, planned by SBI Holdings, is still in the planning phase with no official application submitted yet, delaying its entry into the crypto ETF market.
4. Data from CryptoQuant indicates strong liquidity inflows between March and May, but recent highs suggest fewer aggressive purchases, contributing to the supply squeeze.
5. Despite a soft July for Bitcoin ETFs, Harvard's investment signals continued institutional interest in cryptocurrency.
Description
On the other side of the world, looks like Japan's crypto debut will have to wait.
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