Bitcoin ETFs Swallow Supply: US Funds Acquire 6x More BTC Than Mined in a Week
$1.8B in Institutional Inflows Flood Market as Spot Bitcoin ETFs Tighten Grip on Supply
In a staggering show of demand, U.S. spot Bitcoin ETFs acquired 18,644 BTC last week—nearly six times the amount miners managed to produce over the same period. With just 3,150 BTC mined, the imbalance has sharpened investor focus on ETF-driven scarcity and its impact on prices.
Asset allocator HODL15Capital revealed the numbers in a May 4 post, underscoring how ETF accumulation now outpaces natural supply at a rate unseen in Bitcoin’s history. Given that miners currently generate only 450 BTC per day, the weekly haul by ETFs is raising questions about sustainability, liquidity, and future pricing.
BlackRock Leads the Charge With $2.5B Inflows
The trend is led by BlackRock’s iShares Bitcoin Trust (IBIT), which pulled in nearly $2.5 billion in just five days. IBIT has now posted 17 consecutive days of inflows, a record that signals unwavering institutional appetite.
Despite a brief outflow on April 30, net inflows for the past week stood at approximately $1.8 billion, according to Farside Investors. Since mid-April, ETF demand has risen in lockstep with Bitcoin’s rebound, which saw the digital asset reach a six-week high of $97,700 on May 2 before retreating to the $94,000 level.
ETFs Still Face Distribution Barriers
“Spot Bitcoin ETFs have surged into a nearly $110 billion category despite facing significant distribution hurdles,” said Nate Geraci, president of ETF Store. Many traditional broker-dealers and advisers still restrict access to Bitcoin products for retail clients.
“That’s why I’ve said spot bitcoin ETFs are operating with one hand tied behind their backs,” Geraci noted. “Imagine what might happen as these restrictions are lifted.”
SEC Deadlines Loom for Litecoin and XRP ETFs
Beyond Bitcoin, ETF momentum may soon extend to other digital assets. Canary Capital’s spot Litecoin ETF faces a key deadline from the U.S. Securities and Exchange Commission (SEC) by May 5, part of a broader wave of over 70 crypto ETF filings awaiting decisions this year.
Bloomberg ETF analyst James Seyffart stated, “If any asset has a chance of early approval, it’s Litecoin IMO,” though he predicted a likely delay. Fellow analyst Eric Balchunas echoed similar views earlier in the year.
As ETF influence grows and regulatory dynamics shift, Bitcoin’s price drivers may be moving increasingly from miners to markets.
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