ETFs -> 9.64% of Bitcoin Supply

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We have undoubtedly entered a bull market. Activity in the market is exploding, and we are feeling it at River too in every part of the business. Each month brings new all-time highs across all metrics.

In this newsletter, we go over the state of things, starting with what is driving the price action. Want to receive our newsletter at a regular cadence? Sign up here.

📊 Bitcoin ETFs & Funds in 1 Year From Now

Last month in our newsletter we showed how much bitcoin the new Spot ETFs had been collectively taking off the market, which was an average of 2,378 btc per day.

This number has increased to an average of 2,943 per day. When we extrapolate this growth from the first two months to a year after the ETF launch, they will have bought up an estimated 1,218,787 bitcoin, or 5.8% of the total supply.

On top of that, other ETFs and funds already owned 3.84% of the supply before US Spot Bitcoin ETFs launched, so in a year after launch, the total held by ETFs and funds could be as high as 9.64% of the total supply. At the current bitcoin price, this would be worth $143.7 billion.

In addition to the ETFs, we have Microstrategy now at 205k bitcoin or nearly 1% of total supply, as well as a Bitcoin halving coming up, which we will write about in our next newsletter.

🤝 Welcoming New Bitcoiners

We’re increasingly hearing stories from clients and people around the industry about their friends and family asking Bitcoin-related questions.

Instead of saying “I told you so”, use this moment to get them interested rather than feeling like they are too late once again:

  1. Listen and have a conversation. You’re not here to lecture them on the qualities of money or government deficit spending. See what they don’t understand and want to learn about, and build on that curiosity, one step at a time.
  2. Don’t tell them to read a book, start with a fun video or informative article. Books are a big commitment, show them how Bitcoin can be fun.
  3. Send them some bitcoin with a River Link! Seeing how easy it is to receive and own their first bitcoin can be a great way to get them to pay attention.

When people have follow-up questions on specific topics, we have over 100 River Learn articles to help them dive deeper.

🌊 Referrals Are Booming

Our referral program has massively outpaced price performance over the past months. Newcomers want a reliable home, and clients are happy for both them and their friends to earn up to $100 in bitcoin in the process.

You can find your referral link in your account and answers to any questions you may have about it in our Help Center.

The Team at River