As of June 9, 2024, 34 #Bitcoin spot Exchange-Traded Funds (ETFs) collectively hold over 1 million Bitcoin, marking a significant milestone in the cryptocurrency market. 

This accumulation has occurred over a relatively short period, with the ETFs purchasing more than 25,000 Bitcoins in a week, a figure that dwarfs the amount produced by miners. 

The rapid growth of Bitcoin ETFs has sparked discussions about the potential impact on market dynamics and the source of the Bitcoins being acquired. 

Despite the bullish sentiment among ETF investors, there is also a notable increase in short positions by hedge funds, indicating a complex and dynamic market environment.
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