These people bought 60,000 Bitcoin this week...and Bitcoin threatens the 70,000 again. The four largest issuers of Spot BTC ETFs, namely the iShares Bitcoin ETF (IBIT) bought from BlackRock. Fidelity (FBTC), Ark Invest (ARKB), and Bitwise (BITB), a total of 56,954 BTC this week. This is according to data provided by HODL15Capital on X. It is a prominent capital compounding entity known for its visibility in cryptocurrency markets.

Spot Bitcoin ETFs: Earned Coins vs. Accumulated Coins According to the data shared, the four major ETFs have been consistently buying a large amount of Bitcoin every week since their inception . Which contributes to the trend of continued accumulation in the field of cryptocurrencies. The data has tracked the purchases made by these top four since approval was granted by the US Securities and Exchange Commission (SEC) in January.

The chart reveals that weekly Bitcoin mining production, which is represented by the red line in the data presented as shown below. It is approximately 6,300 bitcoins. This statistic serves as a reference point, highlighting the discrepancy between newly minted Bitcoin through mining and the large purchases made by institutional investors through ETFs.