On-Chain Metrics

Institutional BTC Absorption Ratio

Measures how much of Bitcoin's new miner issuance is absorbed by net US spot ETF demand over rolling 30 calendar days. A reading of 100% means ETF net buying matched every newly issued bitcoin; readings above 100% mean ETFs absorbed more than miners created, while negative readings show net redemptions. A separate pane plots the BTC inputs and conservative corporate treasury disclosure markers. Corporate quantities are never added to the daily ratio because filings are periodic and do not reveal exact transaction dates.