U.S. Spot Bitcoin ETFs Added Nearly Twice Q3 Mining Supply

U.S. spot Bitcoin (BTC) exchange-traded funds added 79,800 BTC in the third quarter, nearly twice the 41,300 BTC mined during the same period, as ETF demand grew while corporate treasury purchases slowed. The funds added 38,500 more BTC than miners created in Q3. The quarter’s ETF inflows followed $4.76 billion in net outflows from U.S. spot Bitcoin funds in Q2, a sharp reversal in the flow measure. ETF additions were concentrated in two windows: Aug. 17-27 and Sept. 21-25.