US Bitcoin ETFs bought 6x more than BTC miners produced last week 📈
Spot Bitcoin exchange-traded funds (ETFs) in the United States purchased nearly six times the amount of Bitcoin produced by miners last week, showcasing a strong institutional demand. A total of 18,644 Bitcoin was acquired by these funds, while only 3,150 BTC were mined.
The accumulation occurred amidst rising spot prices, with BTC soaring to a six-week high before retreating. BlackRock's iShares Bitcoin Trust led the market with substantial inflows and no outflows for 17 days.
Meanwhile, the SEC is due to decide on a spot Litecoin ETF filing, with notable analysts suggesting possible delays. Over 70 U.S. crypto ETFs await decisions from the SEC this year.
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