Spot ETFs hold 1.28M BTC despite price drop, says analyst

Bloomberg analyst Eric Balchunas noted on X that Bitcoin spot ETFs hold approximately 1.28 million BTC, or 6% of the total supply, even after a nearly 50% price decline. He added that while these ETFs have seen net outflows year-to-date, this trend is likely to shift back to net inflows soon. Balchunas also estimated that the cumulative net inflow since the ETFs launched is around $56 billion.