In less than 10 months since the launch of Bitcoin Exchange-Traded Funds (ETFs), these financial products have accumulated approximately 5% of the total BTC supply. Despite this accumulation, the overall price of Bitcoin has remained relatively stable since the ETF launch, sparking conversations about the impact of ETFs on the cryptocurrency market.
According to Doctor Profit on the X Platform, data shows that Bitcoin ETFs have been acquiring notable amounts of BTC, and they have already secured 5% of the total Bitcoin supply in under a year. A key factor contributing to this accumulation is that ETFs predominantly purchase Bitcoin through over-the-counter (OTC) desks.
These OTC purchases occur away from public exchanges, which can contribute to price stability, even when large quantities of Bitcoin are being bought. The absence of noticeable price changes may be explained by this discreet method of acquisition. Unlike retail traders buying through public exchanges, OTC purchases do not immediately impact market prices, allowing ETFs to gather Bitcoin without causing sudden price fluctuations.
Market experts suggest that the ETF-driven accumulation of Bitcoin is far from over. Projections indicate that in the coming months, ETFs could hold between 15% and 20% of the total Bitcoin supply.
Data from SoSoValue indicates that Bitcoin ETFs recorded daily total net inflow reached $494.27 million, contributing to a cumulative net inflow of $18.80 billion as of September 27. Total net assets are valued at $61.21 billion, representing 4.71% of Bitcoin’s market capitalization.
Read CRYPTONEWSLAND onNotable players include BlackRock’s IBIT, with $24.04 billion in net assets and a 1.85% BTC share, and Grayscale’s GBTC, holding $14.53 billion. IBIT posted a 1.49% daily price change, while Grayscale’s GBTC registered a 1.49% rise. ETFs are seeing steady price growth, with most funds recording daily gains between 1.39% and 1.57%.
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