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Are Bitcoin ETFs buying more bitcoin than is mined?

Updated 23 Eki 2026 Cum · weeks run Monday to Sunday · ETF flows from issuer filings, new bitcoin from the blockchain · How we compare

Not lately. Since January 2024 US spot Bitcoin ETFs have bought 694,306 BTC on net, 1.37 times the 507,084 BTC miners produced, but that lead was built in 2024. In 2026 to 22 Eki their buying and selling have roughly cancelled out (+758 BTC against 132,294 mined), and in the week of 12 – 18 Eki they sold 2,783 BTC on net.

New bitcoin a day≈450466 measured
ETF buying that would match it≈3,150 BTC a week
Weeks the ETFs bought more than was mined69 of 145

For every 100 BTC mined, the ETFs bought on net

2024
ETFs +519,918 BTC · mined 211,266
246
2025
ETFs +178,890 BTC · mined 165,384
108
2026 to 22 Eki
ETFs +758 BTC · mined 132,294
0.6
Last 30 days
ETFs +5,041 BTC · mined 13,978
36

Each square is 10 BTC. Filled: bought by the ETFs, net of redemptions. Empty: mined and not bought by them. 2024 and 2025 by full weeks, Monday to Sunday.

Bitcoin bought by the ETFs vs bitcoin mined, since January 2024

running total, added up week by week · point at the chart to see any week
Bitcoin bought by the ETFs, net of salesBitcoin minedETFs ahead of new supply
2024ETFs 2.46× new supply2025ETFs 1.08× new supply2026 so farETFs about even0200K400K600K800Khalving · 20 Apr 2024ETFs ahead of new supplywidest lead, week of 6–12 Eki 2025417,488 BTCETFs ahead by187,221ETFs, net+694,305mined507,085
Oca 2024Oca 2025Oca 2026Eki 2026
Last full week · 12 – 18 EkiSOLDon net−2,783 vs 3,353 mined
This week so far · 19 – 22 Eki in progressABOVE2.83×+5,288 vs 1,866 mined
Last 30 daysBELOW0.36×+5,041 vs 13,978 mined
Since launch · 11 Oca 2024ABOVE1.37×+694,306 vs 507,084 mined

Week by week: did the ETFs buy more bitcoin than was mined?

One square is one week, Monday to Sunday. Green means yes; pale or red means no. Point at a square to see that week’s numbers.

12–18 Eki 2026SOLDETFs sold 2,783 BTC on net while 3,353 BTC was mined.latest full week
2024mostly yes
yes in 32 of 52 weeks · sold in 16
2025under half
yes in 23 of 52 weeks · sold in 20
2026mostly no
yes in 14 of 41 weeks · sold in 21
yes: the ETFs bought more than miners producedno: they bought, but lessno: they sold on netweeks still to come

The ETFs bought more than was mined in 69 of 145 full weeks: 32 of 52 in 2024, 23 of 52 in 2025 ve 14 of 41 in 2026. The longest run was 7 weeks, 29 Oca – 17 Mar 2024; the last such week was 21–27 Eyl 2026.

How much the ETFs bought or sold each week

The last 52 weeks · bars: ETF net creations in BTC · line: new bitcoin mined

ETFs bought on netETFs sold on netBitcoin mined that week
−30K−20K−10K0+10K+20K+30Kmined
Oca 2026Nis 2026Tem 2026Eki 2026

The biggest week of buying was +45,070 BTC (12–18 Şubat 2024), the deepest week of selling −29,548 BTC (22–28 Haziran 2026). The lighter bar is the current week, still in progress.

Which ETFs are doing the buying?

Net creations in bitcoin by fund, at each day’s average price

In 2026 the buying has been concentrated: IBIT took in 44,915 BTC while GBTC and FBTC together redeemed 61,157 BTC.

fund← soldbought →12 – 18 Ekilast 30 days2026 to date
IBITBlackRock−2,007+16,459+44,915
BTCGrayscale Mini−94+174+15,019
MSBTMorgan Stanley+80+813+10,765
BTCWWisdomTree0−48+467
BRRRCoinShares−1+29+420
EZBCFranklin Templeton0+202+52
BITBBitwise+27−1,300−1,038
HODLVanEck0−57−1,083
BTCOInvesco Galaxy−50−100−1,169
ARKBARK 21Shares0−3,302−6,433
FBTCFidelity−738−5,971−23,708
GBTCGrayscale0−1,858−37,449

How much bitcoin is mined per day

New bitcoin per day on the protocol’s schedule · the reward per block halves every 210,000 blocks, about every four years

05001,0001,5002,0001,800 a day12.5 BTC a block900 a day6.25 BTC a block450 a day3.125 BTC a block225 a day1.5625 BTC a blockhalving · May 2020halving · Apr 2024next halving · 2028, expectedUS spot Bitcoin ETFs launch · 11 Jan 2024now: 466 a daymeasured, last 30 days
2018202020222024202620282030

now: 466 BTC a day, measured over the last 30 days. Dashed line: US spot ETFs launch, Jan 2024. Steps: the halvings of May 2020 and Apr 2024; the next is expected in 2028.

About 450 BTC a day on schedule: a block roughly every ten minutes, 144 blocks a day, and 3.125 new BTC per block since the halving of 20 April 2024. The real number moves with the speed of blocks: over the last 30 days miners produced 13,978 BTC, 466 a day from about 149 blocks a day. In 2026 to date the average is 448.5 BTC a day.

The reward halves every 210,000 blocks. Transaction fees also go to miners, but they move existing coins and add no new supply, so they are not counted here.

bitcoin minedon schedulemeasured
Per day450466 last 30 days
Per week3,1503,353 12 – 18 Eki
Per 30 days13,50013,978
Per year≈164,250132,294 2026 to date
Next halving: block 1,050,000, expected 2028225 a day1.5625 BTC per block

Records and streaks

Since the first trading day, 11 Jan 2024

Longest run above new supply7 weeks29 Oca – 17 Mar 2024
Current run0 weekslast above: 21 – 27 Eyl
Biggest week of buying+45,070 BTC12–18 Şub 2024
Biggest week of selling−29,548 BTC22–28 Haz 2026
Highest ratio to new supply11.3×21–27 Nis 2025
Biggest single day+18,174 BTC7 Kas 2024
Biggest month of buying+118,123 BTCŞub 2024
Biggest month of selling−71,365 BTCHaz 2026

The last 12 weeks

Monday to Sunday · ETF net creations converted to bitcoin at each day’s average price

weekETFs, net BTCmined BTCETFs ÷ minedvs new supply
19–22 Eki 2026 in progressETFs +5,2881,866 mined2.8×ABOVE
12–18 Eki 2026ETFs −2,7833,353 mined—SOLD
5–11 Eki 2026ETFs −8,2363,378 mined—SOLD
28 Eyl – 4 Eki 2026ETFs +2,8383,184 mined0.9×BELOW
21–27 Eyl 2026ETFs +28,0573,097 mined9.1×ABOVE
14–20 Eyl 2026ETFs −2043,203 mined—SOLD
7–13 Eyl 2026ETFs −5,9353,238 mined—SOLD
31 Ağu – 6 Eyl 2026ETFs +12,3883,272 mined3.8×ABOVE
24–30 Ağu 2026ETFs +11,6863,197 mined3.7×ABOVE
17–23 Ağu 2026ETFs +27,7933,056 mined9.1×ABOVE
10–16 Ağu 2026ETFs −6,0323,156 mined—SOLD
3–9 Ağu 2026ETFs +13,4883,141 mined4.3×ABOVE

Source: issuer filings for ETF flows, the blockchain for new coins · as of 22 Eki 2026 Per · T+1. Not investment advice.

How we compare ETF demand with new supply

  • ETF demand is the daily net flow of all US spot Bitcoin ETFs in dollars, divided by that day’s volume-weighted average bitcoin price.
  • New supply is the block reward times the blocks found between midnights UTC: 6.25 BTC per block before 20 April 2024, 3.125 BTC after.
  • ETFs trade five days a week and miners work seven, so the comparison is made by full weeks, Monday to Sunday.
  • Net creations show the coins the funds added or removed, not how much they hold.
  • Only US spot Bitcoin ETFs are counted. Futures ETFs, funds listed elsewhere and companies buying bitcoin for their treasuries are not.
  • This describes flows, not a forecast. ETF demand above new supply does not by itself set the price: existing holders buy and sell too.

Use this comparison

Cite this

Since January 2024 US spot Bitcoin ETFs have taken in 694,306 BTC on net, 1.37 times the 507,084 BTC mined (as of 22 Eki 2026). Source: cryptoetf.today — https://cryptoetf.today/tr/bitcoin-etf-buying-vs-mined

Free to quote with a link to cryptoetf.today. Figures update with each issuer release.

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This week’s ETF buying against new supply, updated every trading day.

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