Strategy’s preferred stock STRC is now a larger buyer of Bitcoin (BTC) in peak weeks than every US spot ETF combined.
However, unlike ETF flows, it only moves in one direction, and that asymmetry, according to a recent analysis by on-chain researchers at Pine Analytics, is why STRC’s volatility is becoming one of the most important variables for a sustained move higher for BTC.
One-Way Flow vs. Two-Way Traffic
In a report it shared on May 27, Pine Analytics made its argument, comparing STRC BTC buying and ETFs. According to the firm, during the week of March 9-15, 2026, STRC’s at-the-market share sales generated $1.18 billion, which Strategy used to buy 17,994 BTC at an average price of $70,946.
In the same week, all 12 US spot Bitcoin ETFs took in approximately $763 million combined, meaning STRC alone beat the entire BTC ETF complex.
However, the more important point that Pine’s analysts mentioned was structural, with ETF flows usually going in two directions and Strategy’s
We współpracy z: https://cryptopotato.com/report-why-strc-volatility-matters-more-than-etf-flows-for-bitcoin/
