Over 5% of Bitcoin’s circulating supply now held in ETPs

exchange68September 11, 2024

0 0 2 minutes read

Bitcoin exchange-traded products (ETPs) have achieved a landmark feat, amassing over 1 million Bitcoin. This significant accumulation, representing more than 5% of Bitcoin’s circulating supply, illustrates the growing investor confidence and the substantial financial heft behind these investment vehicles. Among these, the ProShares Bitcoin Strategy ETF (BITO) stands out for its remarkable sustained inflows, defying expectations month after month. But how has BITO managed to pull this off, especially in the context of fluctuating market dynamics and amidst the introduction of spot Bitcoin ETFs? Discover the strategy that’s propelling BITO ahead of the competition.

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