Bitcoin ETF Go on Buying Spree, Scooping Up Six Times More BTC Than Miners Produce

Bitcoin’s supply-demand equation took a dramatic turn last week as U.S.-based spot Bitcoin ETF absorbed nearly six times more BTC than was produced by miners. According to asset manager HODL15Capital, the funds snapped up a staggering 18,644 BTC, while miners only brought 3,150 new coins into circulation over the same period.

That level of accumulation—roughly 450 BTC mined daily against over 2,600 bought—signals a tightening squeeze on available supply, which could add fuel to bullish price action in the near future. The total value of Bitcoin acquired during the five-day stretch was approximately $1.8 billion, Farside Investors noted, with only a single day of net outflows during the entire two-week window.

The aggressive buying coincided with a modest price uptick. Bitcoin briefly touched $97,700 on May 2, marking its highest level in six weeks, before cooling off to around $94,000—roughly flat compared to its price seven days earlier. Still, the market appears to be finding renewed momentum after weeks of consolidation.

BlackRock’s IBIT Sees Unbroken Inflows

Leading the ETF charge is BlackRock’s iShares Bitcoin Trust (IBIT), which saw nearly $2.5 billion in inflows over the same five-day period. Remarkably, IBIT has now gone 17 consecutive trading days without recording a single outflow. That kind of consistency, particularly during a market still regaining its footing, underscores the long-term conviction some institutions are developing toward Bitcoin.

Despite these impressive figures, many of these ETFs are still hamstrung by legacy financial systems. Nate Geraci, president of The ETF Store, pointed out that many wealth advisory platforms continue to restrict access to Bitcoin ETFs, either by limiting recommendations or outright banning them. 

“Spot Bitcoin ETFs are operating with one hand tied behind their backs,” Geraci remarked. “Imagine what might happen as these restrictions are lifted.”

Litecoin ETF Faces Regulatory Test Next

While Bitcoin dominates the ETF spotlight, other crypto assets are vying for their turn. The U.S. Securities and Exchange Commission faces a decision on Canary Capital’s proposed spot Litecoin ETF by May 5. 

Analysts remain skeptical of a quick approval, but Bloomberg’s James Seyffart believes Litecoin stands the best chance if any altcoin is to break through regulatory resistance.

With more than 70 crypto ETF applications in the SEC’s pipeline, the coming months could redefine institutional access to digital assets across the board.

The post Bitcoin ETF Go on Buying Spree, Scooping Up Six Times More BTC Than Miners Produce appeared first on TheCoinrise.com.