21Shares' Q3 2026 Bitcoin report says US spot Bitcoin ETFs added a net 79,800 BTC, worth about $6.2bn, nearly twice the 41,300 BTC of new mining supply, while treasury companies' purchases fell to about $1bn from $7.1bn. Long-term holders sold 248,000 BTC, worth about $17.4bn, and September miner revenue exceeded estimated costs by 6%.
21Shares says spot Bitcoin ETFs replaced treasury firms as the main buyers in Q3
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