Public Bitcoin (BTC) Treasury companies bought $ 552 million from BTC, while holders dismissed the shares of the Exchange Trade Fund (ETF) between July 31 and August 4.
According to Farside Investors’ factsUS Traded Spot Bitcoin ETFs registered $ 1.25 billion in between July 31 and August 4. At the same time, data from Bitcoin treasuries emphasized that company treasures 4,869 BTC added In the same period.
The amount that is added by Bitcoin Treasuries is worth nearly $ 552 million for the price of $ 113,418 from the moment of the press, almost $ 700 million below the amount of ETF investors.
Metaplanet bought the largest amount of Bitcoin in the period, with 463 BTC, worth more than $ 54 million.
James Butterfill, research by Coinshares, attributed the recent outflows to macro drivers. He mentioned last week’s federal open market committee and stronger than expected economic data.
Shock
Despite the sales pressure of ETF holders who surpassed the acquisition by Bitcoin -Treasury vehicles from the Bitcoin, the BTC supply is considerable this year.
From 4 August, public companies purchased 343,394 BTC, while Bitcoin investors who have been exposed via ETFs have added 181,276 BTC. The combined amount of these two cohorts is equal to 524,670 BTC in almost seven months.
According to Glassnode data, 98,503 BTC were mined during the same period, more than 5 times lower than the amount that is absorbed by public companies and ETFs.
In particular, estimates indicate a total of 164,250 BTC that must be mined this year, which means that the stock of ETF investors and public companies are already more than 3 times higher, with even more than four months to go.
With the help of the price of Bitcoin as a proxy, the supply shock scenario seems to be clear to investors. Despite the recent Macro -Donust, Bitcoin fell 4.2%last week.
Moreover, BTC is still only 7.5% away from the highest point of $ 122,054.86 registered on July 14.
