Friday, February 23, 2024
HomeEthereumFebruary’s Bitcoin ETP internet inflows near whole of earlier three months

February’s Bitcoin ETP internet inflows near whole of earlier three months


Fast Take

ByteTree has reported a large inflow within the international allocation of Bitcoin amongst exchange-traded merchandise (ETPs) since October 2023, including roughly 100,000 BTC.

In accordance with ByteTree knowledge, roughly 890,000 BTC are presently held in various ETPs worldwide, which is about 4.56% of the circulating provide of Bitcoin. Curiously, the beginning of 2024 has seen a rise of about 80,000 BTC within the ETP area, primarily attributed to US-based Bitcoin ETFs.

Bitcoin held by funds: (Source: ByteTree Research)
Bitcoin held by funds: (Supply: ByteTree Analysis)

Inside the final seven days alone, international Bitcoin ETPs underwent an inflow of roughly 25,000 BTC, marking essentially the most important weekly enhance because the early a part of 2021.

Fund Inflows: (Source: ByteTree Research)
Fund Inflows: (Supply: ByteTree Analysis)

February alone contributed a formidable 38,000 BTC internet influx into ETPs, roughly equal to the mixed movement for November, December, and January.

All Funds: (Source: ByteTree Research)
All Funds: (Supply: ByteTree Analysis)

Glassnode knowledge studies that Grayscale Bitcoin Belief (GBTC) presently holds roughly 466,000 Bitcoin, a big 30% decline from its peak holdings of about 622,000 Bitcoin earlier than Bitcoin ETFs started buying and selling.

GBTC ETF Balance: (Source: Glassnode)
GBTC ETF Steadiness: (Supply: Glassnode)

The put up February’s Bitcoin ETP internet inflows near whole of earlier three months appeared first on CryptoSlate.

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