Spot Bitcoin exchange-traded funds (ETFs) are experiencing one of their strongest months since launching in January 2024, with inflows surpassing $3 billion so far in October.

This surge in demand has led ETF issuers to purchase Bitcoin at levels far exceeding the newly mined supply.

US Spot Bitcoin ETFs Amass 45,000 BTC in October

During the trading week of October 21-25, the 11 spot Bitcoin ETFs bought a combined 15,194 BTC, which is nearly five times the 3,150 BTC mined in that period, according to data from HODL15Capital. Inflows during this week totaled around $1.83 billion, reflecting the strong demand that has fueled unprecedented levels of BTC acquisition by ETF issuers.

“If you sold any Bitcoin today, this week, or this year, it’s been bought by the ETFs. Demand for U.S. Bitcoin ETFs far exceeds new supply, but weak hands willingly sell their BTC day after day, week after week,” HODL15Capital wrote.

Read more: What Is a Bitcoin ETF?

Since early October, these issuers have collectively purchased 45,557 BTC. This is the fourth-highest month for BTC acquisitions since spot ETFs received approval on January 10, 2024.

Meanwhile, aggressive buying has brought ETF issuers’ combined BTC holdings close to one million BTC. As of October 25, the Bitcoin E

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Author: Oluwapelumi Adejumo