Digital asset-based trusts and funds have boosted their bitcoin holdings as investor demand has rebounded in the weeks following a number of bank failures. held by digital asset managers such as trusts and exchange-traded products started to fall sharply in early March, dropping below 688,000 bitcoins on March 14 in the immediate aftermath of the failures of Silvergate Bank, Signature Bank, and Silicon Valley Bank.
Grizzly further noted that widespread speculation that the U.S. Federal Reserve has reached the end of its rate hike cycle has persuaded investors to boost their holdings.
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