This month has seen “gargantuan” inflows into Bitcoin (BTC) investment vehicles, indicating that traders’ appetite for BTC exposure is growing. Bitcoin ETPs, which include products like the ProShares Bitcoin Strategy exchange-traded fund (ETF), currently own 205,000 BTC, a new high.
According to June 2nd data published by Arcane Research, Bitcoin exchange-traded products (ETPs) currently have a record amount of BTC under management.
Despite BTC price action failing to attract buyers at levels more than 50% below all-time highs, not everyone is feeling risk-averse.
According to Arcane’s data, institutional investors have shown a lot of interest in Bitcoin ETPs this month and last.
“While the May rebound in ETPs was significant, June has witnessed even brighter days!” Arcane analyst Vetle Lunde informed Twitter followers on June 2 while sharing the figures.
More than 7,000 BTC flowed to ETPs in the first few days of June alone, almost as much as in the entire month of May, which saw an incredible 9,765 BTC surge.
“Massive $BTC inflows into Bitcoin ETFs already in June,” said Zhu Su, cofounder of asset management Three Arrows Capital. Meanwhile, the Purpose Bitcoin ETF, the first Bitcoin spot price ETF to open anywhere in the world, has $1.294 billion in assets under management as of June 3, according to on-chain monitoring site Coinglass.
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