{"id":128596,"date":"2025-05-05T05:23:55","date_gmt":"2025-05-05T05:23:55","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128596"},"modified":"2025-05-05T05:23:55","modified_gmt":"2025-05-05T05:23:55","slug":"us-bitcoin-etfs-bought-6x-more-than-btc-miners-produced-last-week","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128596","title":{"rendered":"US Bitcoin ETFs bought 6x more than BTC miners produced last week"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSpot Bitcoin exchange-traded funds (ETFs) in the United States bought up nearly six times as many Bitcoin as were produced by miners over the last week.<br \/>\nThe US-based Bitcoin (BTC) funds bought a whopping 18,644 Bitcoin over the past week when only 3,150 BTC were mined for the period, reported asset allocator HODL15Capital on May 4.<br \/>\nThis accumulation by institutions and ETF issuers represents almost six times the amount of the asset being produced since miners only generate 450 coins per day.\u00a0\u00a0<br \/>\nThe total inflow for the past five trading days was around $1.8 billion, with a net outflow on April 30,\u00a0according\u00a0to Farside Investors. There has only been one outflow day since April 16, as the inflows have mirrored market recovery.\u00a0<br \/>\nLast week\u2019s accumulation followed an increase in BTC spot prices in early May when the asset gained 4% to reach a six-week high of $97,700 on May 2. However, the asset has since retreated to the $94,000 level, which is the same price it traded at this time seven days ago.\u00a0<br \/>\nSpot Bitcoin ETF flows. Source: CoinglassBlackRock\u2019s iShares Bitcoin Trust (IBIT) is the industry leader, having seen almost $2.5 billion in inflows over the past five trading days and a streak of 17 days without an outflow.\u00a0<br \/>\nRelated: BlackRock Bitcoin ETF buys $970M in BTC as inflows surge, boost market<br \/>\n\u201cSpot Bitcoin ETFs have surged into a nearly $110 billion category, despite facing significant distribution hurdles,\u201d said ETF Store president Nate Geraci in a blog post on May 3.\u00a0<br \/>\nHe added that many wealth management platforms still restrict or prohibit financial advisers and brokers from recommending or providing access to Bitcoin ETPs.\u00a0<br \/>\n\u201cThat\u2019s why I\u2019ve said spot bitcoin ETFs are operating with one hand tied behind their backs. Imagine what might happen as these restrictions are lifted.\u201d\u00a0<br \/>\nLitecoin ETF decision due\u00a0<br \/>\nMeanwhile, the Canary Capital spot Litecoin (LTC) ETF filing is due for a second deadline decision from the US Securities and Exchange Commission by May 5. The issuer filed for a spot Litecoin ETF alongside a spot XRP ETF in October.\u00a0<br \/>\n\u201cIf any asset has a chance of early approval, it\u2019s Litecoin IMO,\u201d said Bloomberg ETF analyst James Seyffart on May 5. \u201cPersonally think a delay is more likely,\u201d he added. Fellow analyst Eric Balchunas echoed the sentiment earlier this year.<br \/>\nMore than 70 US crypto ETFs are awaiting an SEC decision this year, Bloomberg reported in April.\u00a0<br \/>\nMagazine: Bitcoin to $1M \u2018by 2029,\u2019 CIA tips its hat to Bitcoin: Hodler\u2019s Digest<a href=\"https:\/\/cointelegraph.com\/news\/us-bitcoin-etfs-bought-6x-more-btc-than-produced-by-miners-last-week?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSpot Bitcoin exchange-traded funds (ETFs) in the United States bought up nearly six times as many Bitcoin as were produced by miners over the last week. The US-based&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128596"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128596"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128596\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128596"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}