Spot Bitcoin ETFs have accumulated 5.3% of the total BTC supply
On November 18th, CryptoQuant analyst MAC.D stated in a post that the spot Bitcoin ETF has accumulated 5.3% of the total existing Bitcoin, with its holdings increasing from 629,900 BTC at the beginning of the year to 1.05 million BTC, an increase of 425,000 BTC. This growth has increased the ETF's holdings from 3.15% of the total Bitcoin supply to 5.33% in 10 months.
MAC.D's tracked data also shows a correlation between the accumulation of Bitcoin through spot Bitcoin ETFs and price trends, especially during the price increases in March and November.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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