Bitcoin ETFs, which are moving at a much faster than expected momentum, seem to have led to a supply shortage.

Hut8, one of the largest publicly traded Bitcoin mining companies in the US, recently said that major banks have contacted the company directly to buy Bitcoin.

Speaking to DL News, Hut8 CEO Asher Genoot said, “We’ve had banks reach out to us to try to buy our Bitcoin because of the supply shortages on these different exchanges,” Genoot stated that banks are interested in Hut8’s assets as well as Bitcoin production capacity. However, the CEO did not name the institutions, but said they were “the largest banks you can think of.”

Bitcoin ETFs have collected a large amount of BTC since their launch on 11 January. As of today, ETF assets are over $57 billion. Excluding the Grayscale ETF, the amount ETFs have collected from the market is more than 500 thousand BTC.

Hut8 has $600 million in Bitcoin assets. The company is the fourth company holding the most Bitcoin among publicly traded companies.