Samson Mow, the CEO of JAN3, has identified a series of crucial indicators that could shape Bitcoin’s trajectory in the coming months. Among the many, Mow lists how capital flows to Bitcoin via spot ETF issuers, real inflation, hash rate evolution, and others.

Spot Bitcoin ETF Inflows Is A Metric To Monitor Closely

Taking to X on January 28, Mow believes that the influx of capital into Bitcoin-linked exchange-traded funds (ETFs) could play a pivotal role in driving adoption and price in the coming weeks and months. Specifically, the CEO emphasizes the importance of the spot Bitcoin ETF inflow metric. The United States Securities and Exchange Commission (SEC) recently approved several spot Bitcoin ETFs for the first time in over ten years. 

Some of the top Wall Street players, including BlackRock and Fidelity Investments, have been leading the table, buying more coins in the past three weeks. According to Lookonchain data, eight spot Bitcoin ETFs bought 4,160 BTC as of January 26. At the same time, Grayscale Investments, the issuer of Grayscale Bitcoin Trust (GBTC) shares, offloaded 9,932 BTC. 

Prices might increase as more institutional investors gain exposure to Bitcoin through regulated ETFs. However, for now, traders are watching out for how fast Grayscale Investments is shedding their GBTC shares, recouping BTC, and even distributing them to spot Bitcoin ETF issuers. GBTC conversion to BTC might impact prices, heaping more selling pressure and negating the general optimism among holders.

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Author: Dalmas Ngetich

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