The "Institutional Era" has fundamentally shifted Bitcoin's market structure, with regulated products now absorbing more supply than is being created.
: In April 2026, U.S. spot Bitcoin ETFs recorded an eight-day inflow streak totaling $2.43 billion , nearly doubling the previous month's volume.
: ETFs have accumulated over 600,000 BTC , roughly equivalent to 100% of the new supply issued since the 2024 halving.