Bitcoin Investment Products Surpass 1.1 Million BTC

IconCryptoNewsTerminal Staff29 May, 2024

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Bitcoin Investment Products Surpass 1.1 Million BTC

Bitcoin-backed Investment Products See Inflow of 32,690 BTC in May A recent report from Kaiko's senior analyst Vetle Lunde reveals that Bitcoin-related investment products, such as exchange-traded products (ETPs) and exchange-traded funds (ETFs), now hold over 1.1 million BTC. This represents a significant increase, as there was a net inflow of 32,690 BTC in May alone, offsetting the outflow seen in April. Previously, crypto analyst HODL15Capital had reported that the amount of BTC held by global BTC ETFs had exceeded 1 million, highlighting the growing institutional interest in Bitcoin. The recent increase in the overall holdings of Bitcoin-related investment products further underscores this trend and suggests that investors are increasingly recognizing the value of Bitcoin as an asset class.

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