US Spot BTC ETF holdings as a percentage of total BTC circulating supply, measuring institutional adoption.
How ETF Holdings Ratio is calculated
Total ETF holdings ÷ circulating supply. Currently ~5% — historically high.
How to read it
- ETF metrics reflect spot-fund creations, redemptions and holdings; data updates per trading day with delays and holiday gaps.
- Consecutive inflows or outflows show institutional direction, but their impact depends on price and overall liquidity.
Limitations and common misreads
- Historical thresholds come from a limited sample; future cycles can differ.
- Data providers can define the metric differently; cite the data date when quoting it.
- A single indicator is not investment advice and does not guarantee price direction.
Related indicators
Research and education only; not investment advice.
