Recent reports suggest that newly created Bitcoin whales now hold a significant amount of BTC, accounting for approximately 9% of the total coin supply. According to data shared by Ki Young Ju, the CEO of blockchain analytics firm CryptoQuant, these short-term holder whales have emerged as one of the main entities in the Bitcoin market.

Short-term holders are defined as individuals who have held their coins for less than 155 days. Ki Young Ju reveals that these Bitcoin whales currently possess a total of 1.8 million BTC, including spot ETFs.

Despite a slowdown in demand for Bitcoin exchange-traded funds (ETFs), Ki Young Ju asserts that on-chain accumulation of BTC remains highly active. This implies that even without ETF settlement transactions, investors are actively acquiring Bitcoin.

In response to concerns about zero flows in Bitcoin ETFs, Bloomberg ETF expert James Seyffart explains that it is normal for the majority of ETFs to have no flows on any given day. This is because shares of the product are only created when there is a supply-demand mismatch. Seyffart further clarifies that creation units, which are the lots in which ETF shares are created and redeemed, vary in size depending on the ETF. For spot Bitcoin ETFs, creation units range from 5,000 to 50,000 shares.

In terms of the current market situation, Bitcoin is currently trading at $61,904, down from its recent high of nearly $74,000.

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