According to Hodl15 Capital, from May 1 to 15, 2025, Bitcoin ETFs in the U.S. acquired approximately 26,700 BTC, which is more than three times the miners' output during the same period.
Increase in Bitcoin ETF Demand
This surge in accumulation, driven by BlackRock and Wisd Capital, who together acquired over 16,000 BTC, has led to speculation about a potential supply shortage. Following the April 2024 halving, which reduced the block reward to 3.125 BTC, the daily issuance rate has decreased to about 450–480 BTC, while ETF demand has soared to over 1,700 BTC daily.
Bitcoin Price Analysis
At the time of writing, Bitcoin is valued at around $102,906, down approximately 0.63% over the past 24 hours. Despite this decline, the Fear & Greed Index remains at 74, indicating that both traders and institutional investors are still relatively optimistic. Technical analysis shows increasing bullish sentiment, with resistance likely around $108,000 and support at the $98,000 level.
Expected Supply Disruption
Current trends suggest that if ETF demand continues to surpass daily mined output, the market may face a supply shortage, potentially resulting in price increases. Recent financial filings reveal that major investors, such as Mubadala Investment Company and Citadel Advisors, are increasing their holdings in Bitcoin ETFs, indicating a shift towards accumulation strategies.
Given the current market situation, the latter half of 2025 could see significant price gains for Bitcoin if institutional investors continue to bolster their reserves.
