It's a month since the SEC approved Bitcoin ETFs, and a net $2.8bn is now held in these ETFs. Here is the breakdown:

![](https://pbs.twimg.com/media/GGLPe6NXUAEIyG8?format=jpg&name=large)
[source](https://twitter.com/Schuldensuehner/status/1757196110249050446/photo/1)

As you can see from the above graphic, most of the action has been about money moving out of Grayscale and into the other ETFs.

However, when the halving comes and the mainstream media start covering the bitcoin space, the money coming in should pick up, and will hit coin supply constraints, especially as it doesn't look like there are any big forced sellers out there anymore.

That in turn should drive the price higher.

Of course one downside is that ETFs make it easier to short bitcoin when the next bear market comes. So don't forget to take some profits when bitcoin makes it's next all time high.