Bitcoin ETFs acquired nearly three times the amount of BTC mined in December
The latest data shows that Bitcoin exchange-traded funds (ETFs) accumulated 270% more Bitcoin in December than was mined, a clear indicator of increased institutional interest in the leading cryptocurrency.
According to reports, Bitcoin ETFs added 46,980 Bitcoin to their holdings in December while only 14,057 Bitcoin were mined during the same period. This imbalance highlights the growing demand for Bitcoin among institutional investors.
The news comes as more traditional financial institutions are starting to offer Bitcoin-related products to their clients, further legitimizing the asset in the eyes of the mainstream financial industry.
Bitcoins limited supply of 21 million coins is often cited as a key factor driving its value, as scarcity tends to increase demand. With institutional investors now scooping up more Bitcoin than is being mined, this trend is likely to continue driving up the price of the cryptocurrency.
Overall, the data suggests that institutional investors are increasingly viewing Bitcoin as a valuable asset class worth investing in, signaling a shift in perception towards the leading cryptocurrency.
The post Bitcoin ETFs acquired nearly three times the amount of BTC mined in December appeared first on Crypto Breaking News.
Text source: Crypto Breaking News
