The Vanishing Ether: How ETFs and Corporate Treasuries Are Reshaping Bitcoin's Supply Dynamics
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最新报道：Bitcoin's scarcity is accelerating beyond protocol halvings as institutional demand via ETFs and corporate treasuries locks up supply. ETFs hold over 1.4M BTC (7% of total), absorbing 41,000 BTC monthly—triple the new supply mined. Corporations like MicroStrategy own 632,457 BTC, buying 3,000+ BTC daily versus 450 mined. This "synthetic halving" reduces liquidity, with 64% of supply held long-term and volatility dropping 75% since mid-2025, driving prices to $122,780 in July 2025.
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