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Bitwise CIO: The amount of BTC purchased since the launch of Bitcoin ETF is more than twice the amount mined by miners

Bitwise CIO: The amount of BTC purchased since the launch of Bitcoin ETF is more than twice the amount mined by miners

Bitget2024/07/17 12:09
BTC-2.21%ETH-2.50%

Bitwise Chief Investment Officer Matt Hougan stated that since the launch of the spot Bitcoin ETF, the number of Bitcoins purchased by related funds has reached approximately 263,965. In contrast, Bitcoin miners mined 129,281 Bitcoins during the same period. This means that the amount of BTC bought by Bitcoin ETFs since their inception is more than double what miners have produced. Furthermore, since the launch of ETF on January 11th, Bitcoin has risen about 40%, and it has increased over 100% since October 2023. It's expected that Ethereum ETF will have a greater impact on ETH.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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