On June 7th, Nate Geraci, president of The ETF Store, wrote that in less than 5 months, the iShares Spot Bitcoin ETF (IBIT) now holds more than 300,000 bitcoins, accounting for nearly 1.5% of the total bitcoin supply. IBIT only had a net inflow of nearly $800 million this week. This is not a view on price, but I believe that advisors and institutional investors are just starting to enter the market.