Recent data indicates a significant surge in Bitcoin accumulation by US-listed spot exchange-traded funds (ETFs), which purchased nearly six times the amount of Bitcoin created by miners last week.
A report dated May 4 from asset allocator HODL15Capital reveals that spot Bitcoin ETFs acquired 18,644 BTC during the previous week, in stark contrast to the 3,150 BTC mined in the same timeframe—averaging around 450 coins per day.
Institutional Demand for Bitcoin ETFs Intensifies Amid Supply Constraints
This buying spree underscores the increasing interest from institutional investors, particularly as supply tightens following the recent Bitcoin halving.
While there was a net outflow noted on April 30, data from Farside Investors showed that the total net inflow for the week reached approximately $1.8 billion. Since mid-April, there has been only a single day of net outflows, indicative of an overall rebound in market confidence.
U.S. Bitcoin ETFs bought 18,644 Bitcoin last week vs. 3,150 mined pic.twitter.com/hTcUWECGr6
— HODL15Capital (@HODL15Capital) May 4, 2025
This influx of investment coincided with a notable price rally, as Bitcoin climbed to a six-week high of $97,700 on May 2, before stabilizing around $94,000—comparable to its position from a week prior.
Leading the charge in this ETF boom is BlackRock’s iShares Bitcoin Trust (IBIT), which has experienced an uninterrupted inflow streak for 17 days, drawing nearly $2.5 billion over the past five trading days alone.
Nate Geraci, president of ETF Store, highlighted in a blog post on May 3 that despite the challenges posed by limited distribution access, spot Bitcoin ETFs have burgeoned into a market nearly valued at $110 billion.
“Many wealth management platforms still prevent financial advisers and brokers from offering these products,” he stated. “That’s why I’ve said spot Bitcoin ETFs are operating with one hand tied behind their backs. Imagine the impact when those restrictions are removed.”
SEC to Reveal Decision on Litecoin ETF
In parallel news, the U.S. Securities and Exchange Commission (SEC) is poised to announce a decision regarding a proposed spot Litecoin ETF from Canary Capital by May 5.
The firm had also submitted an application for a spot XRP ETF last October.
Bloomberg ETF analyst James Seyffart remarked that Litecoin stands the best chance for early approval, though a delay is still anticipated. His colleague, Eric Balchunas, shared a similar cautious perspective.
The @CanaryFunds Litecoin ETF filing is due for a decision (possibly a delay) by Monday 5/5. SEC went early & delayed a bunch of filings but not this. If any asset has a chance of early approval it’s Litecoin IMO. Personally think a delay is more likely but def something to watch pic.twitter.com/FilnUcMtUH
— James Seyffart (@JSeyff) May 4, 2025
As per the latest projections, Solana and Litecoin are viewed as the frontrunners for approval with a 90% likelihood, followed closely by XRP (85%), Dogecoin and Hedera (80%), and Cardano, Avalanche, and Polkadot (75%).
While spot Bitcoin and Ethereum ETFs have received approval, the SEC has yet to authorize any ETF with staking functionalities—something already approved in markets such as Canada and Europe.
Additionally, the Crypto Council for Innovation, which includes major firms like a16zcrypto, Consensys, and Kraken, has urged the SEC for clearer regulations regarding staking.
In a letter directed to Commissioner Hester Peirce, the coalition contended that staking is a technical process rather than a securities transaction, advocating for its responsible inclusion in ETFs.
Currently, over 70 cryptocurrency ETF applications are awaiting a decision from the SEC, as reported by Bloomberg.
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