Bitcoin ETFs Near 1 Million BTC Milestone as Retail Demand Surges
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ETF analyst Nate Geraci has noted a major milestone for Bitcoin exchange-traded funds (ETFs), which are now nearing a collective 1 million BTC in holdings - around 5% of Bitcoin’s total supply.
Last week alone, Bitcoin (BTC) ETFs saw inflows totaling $988 million.
Spot bitcoin ETFs now about 23,000 away from holding 1,000,000 btc…
Or almost 5% of btc final total supply.
via @apollosats pic.twitter.com/QnrOPr6vPX
— Nate Geraci (@NateGeraci) October 28, 2024
BlackRock’s IBIT ETF dominated inflows, bringing in a remarkable $1.15 billion within one week.
In contrast, spot Ethereum (ETH) ETFs have lagged significantly, attracting only $78.89 million as investors continue to show limited interest.
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On October 25, IBIT alone secured $291 million in fresh capital, aligning with Bitcoin’s recent price surge to $68,600.
Data indicates that demand for Bitcoin ETFs is driven mainly by retail investors.
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