How ETFs affected Bitcoin’s supply distribution across cohorts

The landscape of Bitcoin distribution has undergone noticeable shifts since the dawn of this year, with the introduction of spot Bitcoin ETFs in the U.S. playing a pivotal role in reshaping the accumulation patterns amongst holders. By delving into the allocation trends among various Bitcoin cohorts, we uncover enlightening insights about the market's dynamics, hinting at the balance of power between retail and institutional players. Interestingly, holders within the 10,000 to 100,000 BTC range have seen their balances swell by 2.97% YTD, a move contrasting sharply with smaller holders in the 100 to 1,000 BTC bracket, who've witnessed their holdings diminish. This divergence raises critical questions about market sentiment and the strategic reallocation of digital assets. But what does this significant tilt towards larger holders signify for the future of Bitcoin? Discover the deeper implications of these shifts and how they could shape the trajectory of cryptocurrency investment.