Bitcoin ETFs Buy 10X More BTCs Than Miners Mine

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On Monday, February 12, spot Bitcoin ETFs attracted 10 times more Bitcoin than the amount produced by miners. Preliminary data showed that around $493.4 million, equivalent to 10,280 Bitcoin, was invested in spot Bitcoin ETFs on February 12.

The majority of this investment, $374.7 million, went to BlackRock’s iShares Bitcoin Trust. Other major ETFs receiving investments included Fidelity’s Wise Origin Bitcoin Fund with $151.9 million and Ark 21Shares Bitcoin ETF with $40 million.

Some outflows from Grayscale and Invesco Galaxy ETFs slightly lessened the net inflow, but overall, close to half a billion dollars went into spot Bitcoin ETFs.

In comparison, the amount of Bitcoin produced by miners on February 12, as reported by, was only 1,059 BTC (worth around $51 million). This is only 10% of the amount invested in ETFs.

A similar trend was observed on February 9, with around 12,700 BTC (worth $541.5 million) being invested in spot Bitcoin ETFs, compared to only 980 BTC (worth $45 million) produced by miners.

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