Bitcoin

when

Gold

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>US Bitcoin ETFs acquired about 2 months of BTC mining supply in the first week of June.</li> 
 <li>11 BTC ETFs saw inflows of approximately $1.78 billion between June 3 and June 7.</li> 
</ul> 
<p>According to the latest reports, US Bitcoin ETFs acquired the equivalent of about two months’ worth of crypto mining supply in the first trading week of June.</p> 
<p>In other words, between June 3 and June 7, the ETFs bought 25,729 BTC worth about $1.78 billion at current prices. This is around eight times more than the 3,150 new BTC mined over the same time, <a href="https://x.com/HODL15Capital/status/1799613569903862191" rel="nofollow" target="_blank">HODL15Capital</a> notes.</p> 
<p><img decoding="async" src="https://pbs.twimg.com/media/GPmDAKIWIAAaCEK?format=jpg&amp;name=large" alt="Image" title="Bitcoin ETFs Acquired $1.78B Last Week, Almost 2 Months Of BTC Mining Supply 13"></p> 
<p>At the moment of writing this article, <a href="https://crypto.ro/en/news/bitcoin-whales-strong-appetite-for-buying-is-back-with-1b-daily-inflows/">BTC</a> is trading at around 69,300.</p> 
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<p>The amount of Bitcoin acquired in the past week was reportedly about as much as the entire May, 29,592 BTC ($2 billion), the same reports reveal.</p> 
<p>Last week was the biggest week of buying since mid-March when BTC reached its current ATH of almost $74,000.</p> 
<p><a href="https://crypto.ro/en/wp-content/uploads/2024/06/btc.jpg"><img loading="lazy" decoding="async" class="alignnone wp-image-44509 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/btc.jpg" alt="btc" width="2048" height="872" title="Bitcoin ETFs Acquired $1.78B Last Week, Almost 2 Months Of BTC Mining Supply 14" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/btc.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2024/06/btc-300x128.jpg 300w, https://crypto.ro/en/wp-content/uploads/2024/06/btc-1024x436.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2024/06/btc-768x327.jpg 768w, https://crypto.ro/en/wp-content/uploads/2024/06/btc-750x319.jpg 750w, https://crypto.ro/en/wp-content/uploads/2024/06/btc-1140x485.jpg 1140w" sizes="(max-width: 2048px) 100vw, 2048px"></a></p> 
<p>The cumulative total net inflows of BTC ETFs since their launch in January is currently $15.69 billion, according to the data revealed by<a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank"> SoSoValue</a>.</p> 
<p>These include the $17.93 billion in net outflows from Garyscale’s BTC ETF, GBTC with total assets under management of approximately $61 billion.</p> 
<h2 id="bitcoin-is-trading-above-69k-surrounded-by-optimistic-predictions">Bitcoin is trading above $69k surrounded by optimistic predictions</h2> 
<p>Bitcoin seems to be managing to consolidate above the important level of $69k, after last week, the coin was able to reach close to $72k.</p> 
<p>The coin remains surrounded by optimistic predictions. For instance, ETF Store’s president Nate Geraci noted in a post on X that Bitcoin ETF AUM is around 60% of the country’s gold ETFs.</p> 
<p>This is despite gold ETFs being around for 20 years and Bitcoin ETFs have been launched at the beginning of 2024.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">First physical gold ETF (GLD) launched nearly *20yrs* ago…</p> 
 <p>In *5mos*, spot bitcoin ETFs already have nearly 60% AUM of gold ETFs.</p> 
 <p>Gold ETFs = $105bil</p> 
 <p>Spot btc ETFs = $61bil</p> 
 <p>Consider this your spot btc ETF stat of the day.</p> 
 <p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1799593887591518365?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">June 9, 2024</a></p>
</blockquote> 
<p>Recent predictions also addressed Bitcoin vs gold prices. Not too long ago, Peter Brandt predicted that BTC could surge 230% against gold in 12-18 months.</p> 
<p>Willy Woo also revealed <a href="https://crypto.ro/en/news/bitcoin-could-surge-230-against-gold-peter-brandt-says/">a comparison</a> between gold inflation and&nbsp;<a href="https://crypto.ro/en/news/top-7-events-this-week-that-could-impact-bitcoin/">BTC</a>&nbsp;inflation – 1,47% vs. 0.78%. BTC’s inflation is obviously dropping compared to the one of gold. The current inflation of BTC is about half of the one of gold.</p>

Bitcoin ETFs Acquired $1.78B Last Week, Almost 2 Months Of BTC Mining Supply

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