US-listed spot Bitcoin exchange-traded funds (ETFs) have been making waves in the market, purchasing nearly six times the amount of Bitcoin last week than what was generated by miners. A recent report from asset allocator HODL15Capital highlighted that spot Bitcoin ETFs acquired 18,644 BTC in just the past week, dwarfing the 3,150 BTC produced by mining activities over the same timeframe, which breaks down to about 450 coins per day.

### Rising Interest from Institutions in Bitcoin ETFs Amid Tightening Supply

This surge in purchases underscores a significant interest from institutional investors, especially noticeable after the recent halving event that has made Bitcoin’s supply even more limited. Despite experiencing a net outflow on April 30, Farside Investors reported that the total net inflow for that week reached an impressive $1.8 billion. This positive inflow trend has been consistent since April 16, with the market’s recovery further boosting investor confidence.

The excitement around Bitcoin also saw a price rally, with its value hitting a six-week high of $97,700 on May 2, before settling back to around $94,000. Leading the investment influx is BlackRock’s iShares Bitcoin Trust (IBIT), which has seen an uninterrupted inflow for 17 days straight, amassing nearly $2.5 billion over the last five trading sessions. Despite facing limited distribution access, spot Bitcoin ETFs have grown into a nearly $110 billion market, according to ETF Store president Nate Geraci. He believes that when the existing restrictions are lifted, the impact on the market will be even more profound.

The U.S. Securities and Exchange Commission (SEC) is also on the brink of making a decision regarding a proposed spot Litecoin ETF by Canary Capital, a decision that is keenly awaited by the market. Analysts like James Seyffart and Eric Balchunas suggest that while Litecoin has a high chance of early approval, a delay is also likely.

As the market awaits the SEC’s green light for ETF products with staking functionality, major firms back the Crypto Council for Innovation, advocating for regulatory clarity on staking to include it responsibly in ETF offerings. Currently, more than 70 crypto ETF applications are pending a decision from the SEC, signaling a growing interest and demand for these financial products.

“Spot Bitcoin ETFs have bought a whopping 18,644 BTC in a week, outpacing the mining output by nearly 6x! A clear sign of growing institutional interest. #Bitcoin #ETFs #InvestmentTrends”