In the past week, Bitcoin exchange-traded funds (ETFs) in the United States acquired 18,644 BTC, significantly overshadowing the production of 3,150 BTC by miners. This remarkable accumulation by institutions demonstrates the increasing demand for Bitcoin, especially as miners typically generate around 450 coins per day. The total inflow for the previous five trading days reached approximately $1.8 billion, with minimal outflows noted recently. The accumulation coincided with a spike in Bitcoin prices, reaching $97,700 before gradually declining to around $94,000. BlackRock’s iShares Bitcoin Trust, which has seen substantial inflows recently, capitalizes on the growing interest, despite hurdles such as advisory restrictions on cryptocurrency investments. Additionally, the SEC is assessing a spot Litecoin ETF, with implications for future crypto ETF approvals. The market's behavior reflects a robust institutional engagement, with over 70 US crypto ETFs awaiting SEC decisions this year.

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