Bitcoin Exchange Traded Funds (ETFs) have seen significant growth, with 28 Spot ETFs approaching 1 million BTC holdings. The first UK BTC Exchange Traded Products (ETPs) are set to launch on May 28. ETFs have bought a substantial amount of BTC, with figures such as 566k BTC purchased in four months, equating to 2.7% of all BTC that will ever exist. The US Spot Bitcoin ETFs alone have been buying over 1,000 BTC daily, significantly more than the daily mining output of 450 BTC. The ETFs have also added around 15,421 BTC in a week, surpassing the weekly mining production of 3,150 BTC. The total BTC holdings by ETFs currently stand at 859,389 BTC, creating a supply shock in the market. Retail investors hold approximately 85% of the Spot ETFs, indicating strong retail interest in BTC ETFs.