Bitcoin ETPs now have more BTC under control on behalf of clients than ever before.
Bitcoin (BTC) investment vehicles are seeing “gargantuan” inflows this month, which is a fresh sign that traders’ appetite for BTC exposure is mounting.Data from monitoring firm Arcane Research published this week shows that Bitcoin exchange-traded products (ETPs) now have record high BTC under management."Happier days" for Bitcoin ETPs as buyers pile inDespite BTC price action failing to draw in buyers at over 50% below all-time highs, not everyone is feeling risk-off.According to Arcane’s data, Bitcoin ETPs have seen a flurry of interest from institutional investors both this month and last.In total, Bitcoin ETPs, which include products such as the ProShares Bitcoin Strategy exchange-traded fund (ETF), now have 205,000 BTC under their control — a new record.“While the May recovery was strong in ETPs, June has seen even happier days!” Arcane analyst Vetle Lunde told Twitter followers while uploading the numbers on June 2.“The first two days of June have seen gargantuan net inflows to Purpose, 3iQ Coinshares, and BITO, pushing the global BUM to a new all-time high of 205,008 BTC.”Bitcoin ETF investment chart.