CryptoQuant Analyst: The spot Bitcoin ETF has accumulated 5.3% of the total BTC supply
CryptoQuant analyst MAC.D stated that the spot Bitcoin ETF has accumulated 5.3% of the total existing Bitcoins, with its holdings increasing from 629,900 BTC at the beginning of the year to 1.05 million BTC, an increase of 425,000 BTC. This growth has raised ETF's share from 3.15% of total Bitcoin in ten months to 5.33%. The data tracked by MAC.D also shows a correlation between Bitcoin accumulation through spot Bitcoin ETF and price trends, especially during price increases in March and November.
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