Samson Mow: Spot Bitcoin ETFs’ Role in Crypto
The CEO of JAN3, Samson Mow, shares his views on the significance of newly SEC-approved spot Bitcoin ETFs in the cryptocurrency market.
JAN3 is Committed to Bitcoin’s Global Adoption
JAN3 works on providing technologies and solutions for individuals, enterprises, and nation-states to adapt to an economy increasingly influenced by Bitcoin.
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Key Indicators Mow is Monitoring in the Bitcoin Market
Mow highlights several key indicators he’s monitoring in the Bitcoin market, including rising Bitcoin hashrate and whale accumulation on Bitfinex.
Rate of Bitcoin Accumulation by US-Listed Spot Bitcoin ETFs
Mow focused on the rate of Bitcoin accumulation by the recently approved US-listed spot Bitcoin ETFs, such as MicroStrategy compared with the daily accumulation rates of IBIT and FBTC.
Supply-Demand Dynamics and Implications
Mow emphasized the implications of supply-demand dynamics, noting that the demand from two ETFs is about 10 times the supply from mining, which could increase with the upcoming Bitcoin halving.
Mow’s Views on Grayscale Bitcoin Trust Fees
Mow shared his views about the substantial fees (1.5%) imposed by the Grayscale Bitcoin Trust (GBTC), pointing out their hesitation to reduce fees despite market pressure.
Hot Take
Mow raises awareness about essential indicators and dynamics in the Bitcoin market crucial for anyone considering getting into crypto.
