Bitcoin Rainbow Chart
A Bitcoin rainbow chart using only the halving dates as data.
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BTC ETF Holdings vs New Supply
Data & charts updated every hour
Chart |
What Does This Chart Show?
The visible line on this chart shows the ratio of Bitcoin held by US spot ETFs (excluding the initial GBTC amount) to the total amount of new Bitcoin mined since the ETFs launched in January 2024. This helps you see, at a glance, how ETF demand compares to new supply—a key metric for understanding market dynamics.
How the Ratio Is Calculated
We remove the initial GBTC holdings from the calculation, since GBTC started with a large amount of Bitcoin that was not newly acquired for the ETF launch. The ratio reflects only the net new BTC bought and held by ETFs since January 11, 2024, divided by the number of new bitcoins mined in the same period.
There is also an option (hidden by default) to view the ratio including the initial GBTC holdings, if you want to see the full picture.
Other Chart Options
By default, only the ratio line is visible. You can also choose to display (these are hidden by default):
- Total Holdings: The cumulative amount of Bitcoin acquired by ETF issuers since launch (excluding initial GBTC amount).
- New Supply: The total number of new bitcoins mined since the ETF launch date.
Why Does This Matter?
If ETF demand consistently outpaces new supply, it can create additional scarcity in the market, potentially impacting price dynamics. This chart helps cut through the noise and shows, in concrete terms, how much ETF demand is outstripping new Bitcoin creation.
Disclaimer
Any information found on this page is not to be considered as financial advice. You should do your own research before making any decisions.
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