4% of the entire bitcoin supply is now backing US spot ETFs | Headlines | News | CoinMarketCap

03/08/2024 18:44
4% of the entire bitcoin supply is now backing US spot ETFs | Headlines | News | CoinMarketCap

The recently listed spot bitcoin exchange-traded funds in the United States continue to vacuum up bitcoins — now holding roughly 4% of the entire 21 …

The recently listed spot bitcoin exchange-traded funds in the United States continue to vacuum up bitcoins — now holding roughly 4% of the entire 21 million BTC supply.

Yesterday, total net inflows into U.S.-listed spot bitcoin ETFs were $472.6 million, according to data from BitMEX Research. At the same time, Fidelity's FBTC spot bitcoin ETF saw a record single-day net inflow of $473.4 million. Conversely, Grayscale's GBTC higher fee fund saw a single-day net outflow of $374.8 million. 

Furthermore, the total net asset value of all spot bitcoin ETFs reached more than $54 billion, with cumulative net inflows hitting $9.37 billion.

This latest data means that spot bitcoin ETFs now hold nearly 4% of the entire supply of the foremost cryptocurrency — data backed up by Dragonfly's …

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