The advent of U.S. Spot Bitcoin ETFs has set off a frenzy among Wall Street players, signaling their increasing confidence in the flagship crypto, Bitcoin. However, this surge in institutional interest has raised concerns about a potential BTC supply crunch. Amid this, major Wall Street banks are now vying to directly purchase Bitcoin from mining companies, seeking to bolster their reserves amid growing scarcity.
Wall Street Banks Accumulating Bitcoin From Miners
The launch of U.S. Spot Bitcoin ETFs on January 11 has witnessed staggering success, with over $12 billion in inflows recorded since then. Notably, the optimism over the U.S. Spot Bitcoin ETF success has also fuelled positive sentiment in the market, sending Bitcoin price to its all-time high of nearly $73,000 recently.
However, this rapid uptake has led to a shortage of Bitcoin on centralized exchanges, compelling Wall Street banks to explore alternative avenues for acquisition. Notably, companies like Hut 8, a prominent BTC
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