According to a report by Arcane Research, Bitcoin exchange-traded products (ETPs) have seen a strong recovery since the last fall by an additional 9765 BTC in May.
In a report, Arcane noted that Bitcoin (BTC) ETPs had fallen to 188,091 BTC in April from 202,450 BTC in March. However, the month of May ended with BTC ETPs at 197,856 BTC. The momentum has further strengthened in early June. The global BTC ETP holdings hit a new all-time high (ATH) of 205,008 BTC two days into June.
May also saw the introduction of the Australian BTC exchange-traded funds (ETFs). The launch has, however, been underwhelming, where BTC ETFs held 237 BTC under management by the end of May Australian.
The European Training Networks (ETNs) also experienced sustained outflows that led to negative flows from Europe on aggregate. However, within the European markets, the redeemable ETPs see small net inflows suggesting a restructuring of the European BTC ETP market.
The Canadian ETFs, on the other hand, saw their strongest monthly net inflows in May since last year May, leading the BTC under management from the Canadian BTC ETFs to surge to a new ATH.
According to Investopedia, Bitcoin ETFs are pools of bitcoin-related assets traded on traditional exchanges. It is similar to crypto futures contracts, where retail investors who are uncomfortable investing in cryptocurrencies have access to them without actually owning them.
With BTC ETF, an investor cuts complex storage and security issues for cryptocurrency.
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Source: Cryptocurrency - investing.com
