Bitcoin ETFs are sucking up 10X more BTC than miners can produce


Spot Bitcoin ETF inflows have outpaced the amount of production from miners by over 10 times in the past two trading days.

Spot Bitcoin exchange-traded funds (ETFs) scooped up 10 times more Bitcoin than what miners were able to produce on Monday, Feb. 12.

According to preliminary figures, at least $493.4 million, or roughly 10,280 Bitcoin (BTC), flowed into spot Bitcoin ETFs as of Feb. 12.

BlackRock’s iShares Bitcoin Trust saw the lion’s share, with a massive $374.7 million flowing in. Meanwhile, Fidelity’s Wise Origin Bitcoin Fund fund saw inflows of $151.9 million, with $40 million for Ark 21Shares Bitcoin ETF. Grayscale outflows of $95 million and $20.8 million from the Invesco Galaxy ETF slightly offset this, though net inflows were almost half a billion dollars.

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