🪙 Rapid Accumulation of #Bitcoin by Spot ETFs

Nine spot Bitcoin #ETFs, including BlackRock's iShares Bitcoin #Trust and Fidelity’s Wise Origin Bitcoin Fund, have collectively purchased over 100,000 BTC within a week of their launch.

This swift accumulation, amounting to approximately $4.1 billion, represents a significant portion of Bitcoin holdings compared to long-term investor #MicroStrategy's three-year accumulation.

🔥 Meanwhile, Grayscale's Bitcoin Trust has sold over 80,000 BTC, contributing to a notable price drop in Bitcoin.