US Bitcoin ETFs bought 6x more than BTC miners produced last week
A whopping 18,644 Bitcoin were scooped up by ETFs in the US over the past week, while only 3,150 BTC were mined.
Spot Bitcoin exchange-traded funds (ETFs) in the United States bought up nearly six times as many Bitcoin as were produced by miners over the last week.
The US-based Bitcoin (BTC) funds bought a whopping 18,644 Bitcoin over the past week when only 3,150 BTC were mined for the period, reported asset allocator HODL15Capital on May 4.
This accumulation by institutions and ETF issuers represents almost six times the amount of the asset being produced since miners only generate 450 coins per day.
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