Bitcoin ETFs acquired 51,500 BTC in December

In December 2024, U.S.-based spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) bought 51,500 BTC, nearly three times the amount of Bitcoin produced by miners during the same month.

Data from Apollo and BiTBO reveals that Bitcoin ETFs accounted for a significant portion of market demand, acquiring 51,500 BTC, while only 13,850 coins were mined during the month, according to Blockchain.com.

This imbalance in supply and demand has fueled concerns over the limited availability of Bitcoin at current prices.

"There’s not enough supply available at current prices to satisfy demand," said Jesse Myers, co-founder of Onramp Bitcoin, after observing market momentum increase following Donald Trump’s presidential election victory in November.

As Bitcoin reached an all-time high of $108,135 on December 17, demand from Bitcoin ETFs surged.

By January 6, preliminary data indicated that over $900 million in Bitcoin was acquired, with January 6 showing even more significant inflows, approaching $1 billion.

Major Bitcoin mining firms also released their December production figures.

MARA Holdings, the top Bitcoin mining firm by market capitalisation, reported 9,457 BTC mined.

Riot and Cleanspark produced 516 BTC and 668 BTC, respectively, while Core Scientific mined 291 BTC, and Bitfarms contributed 211 BTC.

Additionally, Terawulf produced 158 BTC, and cloud mining provider BitFuFu reported 111 BTC mined.

At the time of reporting, the Bitcoin (BTC) price was $101,865.