📉 European Bitcoin exchange-traded products (ETPs) are feeling the heat, with over $500M in net outflows since January, despite Bitcoin's rising demand. 🚀

- Meanwhile, ETPs for other cryptos like Ether have seen a $42M uptick.

- The surge in US Bitcoin ETFs since January has intensified competition, forcing European issuers to slash their fees.

💰 Big players like BlackRock and Fidelity now offer 0.25% annual management fees, triggering a domino effect. European Bitcoin ETP providers like Invesco, WisdomTree, and CoinShares have all lowered their fees from above 0.9% to below 0.4%.

👀 Those who didn't cut their fees weren't so lucky. The Grayscale Bitcoin Trust (GBTC) lost over half of its Bitcoin since the US ETF approvals.

Despite the competition, VanEck’s CEO in Europe, Martijn Rozemuller, remains optimistic, stating that European crypto ETPs are still relatively larger than the spot bitcoin ETFs in the US.

What's your take on this? Drop your thoughts in the comments! 👇 #Bitcoin #ETFs #CryptoMarket