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Bitcoin ETPs surpass 1 million BTC, amid gold and bond ETF outflows


Fast Take

Latest knowledge from ByteTree highlights Bitcoin held in world Alternate Traded Merchandise (ETPs) had crossed the a million Bitcoin mark, setting a brand new file. Previously 90 days, these ETPs have skilled a major influx of 133,000 BTC, largely attributed to the success of US spot Bitcoin ETFs.

Bitcoin held by Funds: (Source: ByteTree)
Bitcoin held by Funds: (Supply: ByteTree)

Curiously, this surge in Bitcoin ETPs is happening alongside outflows from different ETFs, notably these related to gold and bonds. As of information as much as Mar. 1, year-to-date observations point out that among the largest bond ETFs, together with TLT, have skilled unfavourable returns. TLT, specifically, is at present down 4.5% year-to-date, in line with HODL15Capital.

Concurrently, spot Bitcoin ETFs have demonstrated spectacular efficiency since inception. Though it’s at present speculative to quantify how a lot of those conventional asset outflows are transitioning into Bitcoin ETFs, a possible correlation can’t be disregarded.

Bond and BTC ETF YTD Returns: (Source: HODL15Capital)
Bond and BTC ETF YTD Returns: (Supply: HODL15Capital)

The submit Bitcoin ETPs surpass 1 million BTC, amid gold and bond ETF outflows appeared first on CryptoSlate.

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