Nine new Bitcoin exchange-traded funds have collectively acquired over 500,000 Bitcoin since their launch in January, representing 2.54% of the total circulating supply. These ETFs hit this milestone after experiencing significant inflows on Thursday, totaling $287.7 million worth of Bitcoin. As a result, the combined holdings of these ETFs now stand at $35 billion after just 54 trading days.

In comparison, all U.S. spot Bitcoin funds, including Grayscale, hold a total of 835,000 BTC, which equates to nearly 4% of the entire supply. This week, ETF inflows have returned to positive figures with $845 million coming in, reversing the trend of outflows that began on March 18. Notably, on March 28 alone, there was an inflow of $183 million, led by BlackRock's IBIT fund receiving $95 million.

On the other hand, Grayscale's GBTC fund experienced an outflow of $105 million, the lowest since March 12. The fund has shed approximately 284,846 BTC since converting to a spot ETF in mid-January.

In other news, Bitwise has filed an S-1 application with the Securities and Exchange Commission for a spot Ethereum ETF on March 28. Analysts speculate low approval odds for the ETH ETF, with some suggesting a bleak outlook given the lack of communication from the SEC as the deadline approaches in seven weeks.