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 ten times over the past two trading days.

Spot Bitcoin exchange-traded funds (ETFs) scooped up ten times more Bitcoin (BTC) than what miners were able to produce on Monday. 

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

BlackRock’s IBIT saw the lion’s share with a huge $374.7 million inflow. Meanwhile, Fidelity’s FBTC fund saw a $151.9 million inflow, and there was $40 million for Ark 21Shares’ ARKB fund. This was slightly offset by Grayscale outflows of $95 million and $20.8 million from Invesco’s BTCO, though net inflow was almost half a billion dollars.

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