Bitcoin ETFs Outpacing Mining Production in Week 42
Quick Take
Spot Bitcoin ETFs bought 15,194 BTC in Week 42, while miners only produced 3,150 BTC.
Institutional demand is soaring, with nearly 5x more BTC bought than mined.
Limited supply and rising demand highlight Bitcoin’s scarcity and could signal bullish price momentum ahead.
Last week, Bitcoin ETFs made a big move, purchasing 15,194 BTC, while only 3,150 BTC were mined.
Spot Bitcoin ETFs bought 15,194 BTC this week, while only 3,150 BTC were mined – demand is skyrocketing! pic.twitter.com/66roA704wb
— Coinsauce (@CoinsauceCrypto) October 28, 2024
That’s nearly five times more BTC bought by ETFs than was mined, highlighting the growing institutional interest in Bitcoin.
As Bitcoin mining slows down due to its fixed supply and recent block reward halving, demand from financial products like ETFs is ramping up, potentially tightening available supply.
With ETFs scooping up more than what miners can produce, the dynamics of Bitcoin’s scarcity are becoming even more evident.
