European Bitcoin ETPs Witness Outflows Despite BTC Spot ETF Hype

IconCryptoNewsTerminal Staff30 May, 2024

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European Bitcoin ETPs Witness Outflows Despite BTC Spot ETF Hype

Despite the surge in demand for Bitcoin Exchange-Traded Products (ETPs) following the launch of spot Bitcoin ETFs in the US, European Bitcoin ETPs have continued to experience outflows, according to the Financial Times (FT). Data from Morningstar indicates that European BTC ETPs have lost $560 million since the start of the year, while non-BTC crypto ETPs have witnessed net inflows of $42 million.