According to a recent analysis by CryptoQuant expert MAC.D, reported on November 18, the holdings of U.S. Bitcoin spot ETFs have surged significantly from 629,900 BTC to 1,054,500 BTC. This remarkable growth, which constitutes an increase of 2.18% of the total Bitcoin supply within a mere 10 months, has escalated the holding share of spot ETFs from 3.15% to 5.33% of the total mined 19.78 million BTC. Historical price movements in March and November reveal a strong correlation between the rising spot ETF holdings and Bitcoin prices. Should the U.S. government officially recognize Bitcoin as a reserve asset, the inflow into spot ETFs could potentially experience a considerable boost, reflecting the evolving landscape of institutional investment in the cryptocurrency sector.
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