On November 18, CryptoQuant analyst MAC. D posted that the spot bitcoin ETF has accumulated 5.3% of the total existing bitcoin, and its holdings have increased from 629,900 BTC at the beginning of the year to 1.05 million BTC, an increase of 425,000 BTC. This increase has raised ETF holdings from 3.15% of the total bitcoin to 5.33% in 10 months. The data tracked by MAC. D also revealed a correlation between bitcoin accumulation through spot bitcoin ETFs and price movements, particularly during the price increases in March and November.