ETF buying/selling pressure on newly minted coins

This chart illustrates the buying pressure from Bitcoin spot ETFs on newly minted coins. The bars in the chart are the result of calculating the difference between the USD value of newly minted coins minus the USD value of inflows to the Bitcoin spot ETFs. Large negative values mean that Bitcoin ETFs are buying significantly more than what's being mined on a given day, thus pushing overall prices up. The chart also provides a good view of how much institutional demand there is for Bitcoin at different points in time since the inception of the ETFs.