Nate Geraci, an ETF analyst, has pointed out a significant achievement for Bitcoin exchange-traded funds (ETFs), which are now close to holding a total of 1 million BTC – equivalent to approximately 5% of Bitcoin’s overall supply. In just the past week, Bitcoin ETFs have seen inflows totaling $988 million. Currently, spot bitcoin ETFs are around 23,000 BTC away from reaching 1,000,000 BTC, which is nearly 5% of the final total supply of BTC. This information was shared by Nate Geraci on October 28, 2024, via his Twitter account @NateGeraci.
BlackRock’s IBIT ETF has dominated the inflows, attracting an impressive $1.15 billion within just one week. In contrast, spot Ethereum (ETH) ETFs have significantly lagged behind, only attracting $78.89 million as investors continue to show limited interest.
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An analyst predicts a slower surge in liquidity for 2025 and discusses its implications for the markets and Bitcoin. On October 25, IBIT alone secured $291 million in fresh capital, coinciding with Bitcoin’s recent price surge to $68,600. Data indicates that the demand for Bitcoin ETFs is mainly being driven by retail investors. 