CryptoQuant Analyst: Bitcoin Spot ETF Has Accumulated 5.3% of Total BTC Supply

2024-11-18 13:25:36

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ChainCatcher news, CryptoQuant analyst MAC.D stated that Bitcoin spot ETFs have accumulated 5.3% of the total existing Bitcoin supply, with holdings increasing from 629,900 BTC at the beginning of the year to 1,050,000 BTC, an increase of 425,000 BTC. This growth has raised the ETF holdings from 3.15% of the total Bitcoin supply to 5.33% within 10 months.

Data tracked by MAC.D also shows a correlation between Bitcoin accumulation through spot Bitcoin ETFs and price movements, particularly during price increases in March and November.

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