ETF analyst Nate Geraci has noted a major milestone for Bitcoin exchange-traded funds (ETFs), which are now nearing a collective 1 million BTC in holdings – around 5% of Bitcoin’s total supply.
Last week alone,
Bitcoin (BTC)
ETFs saw inflows totaling $988 million.
Spot bitcoin ETFs now about 23,000 away from holding 1,000,000 btc…
Or almost 5% of btc final total supply.
via
@apollosats
pic.twitter.com/QnrOPr6vPX
— Nate Geraci (@NateGeraci)
October 28, 2024
BlackRock’s IBIT ETF dominated inflows, bringing in a remarkable $1.15 billion within one week.
In contrast, spot
Ethereum (ETH)
ETFs have lagged significantly, attracting only $78.89 million as investors continue to show limited interest.
READ MORE:
Analyst Predicts Slower Liquidity Surge for 2025 – What It Means for Markets and Bitcoin
On October 25, IBIT alone secured $291 million in fresh capital, aligning with Bitcoin’s recent price surge to $68,600.
Data indicates that demand for Bitcoin ETFs is driven mainly by retail investors.
