Some voice in me still distrust the whole ETF scene. Still thinks when these purchases were done just taking the spot bitcoin from the exchange in a conventional way it had done more effect on the price.............
Discussion
There are billions in trading volume every day. These ETFs are a short term pittance compared to hedge funds moving in and out of positions. It’s going to take a while for the persistent purchasing to have its effects. There is still a lot of free float on the exchanges.
FYI
Interesting explanation: