Net onchain BTC sales by old coins exceed ETF inflows and Strategy buys, Alex Thorn notes

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Old BTC coins outpace ETF buys

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Daria Chernytska

08.06.2026

Net onchain BTC sales by old coins exceed ETF inflows and Strategy buys, Alex Thorn notes — Old BTC coins outpace ETF buys

Alex Thorn highlights that since January 2024, sales of 5+ year dormant BTC coins onchain have exceeded the combined inflows into ETFs and Strategy (MSTR) purchases every month except February 2024.

By the end of May 2026, the cumulative onchain distribution by these old coins surpassed traditional finance absorption by 200,000 BTC.

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Thorn has previously reported on older Bitcoin supplies re-entering circulation. More 2011 coins from a New York state lost-and-found case have recently moved onchain. Earlier, he noted that Satoshi era coins were transferred without ties to Satoshi Nakamoto. These incidents show continued activity among long-dormant Bitcoin holders.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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