BitcoinETP
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#Write2Earn⏠#BitcoinETP Holdings Surge: Approaching All-Time High #Bitcoin #ETP #btc $BTC
According to ByteTree data, global Exchange Traded Products (ETPs) are approaching their all-time high of around 966k Bitcoin, a record achieved in 2021. The surge in ETP holdings is largely driven by the success of spot Bitcoin ETFs in the United States, which have attracted a net flow of approximately $5.5 billion.
In the past 30 days alone, global ETPs have seen a net inflow of over 100k Bitcoin, surpassing the previous 30-day record of 90k Bitcoin set in 2020, as reported by ByteTree.
ByteTree's data reveals a remarkable inflow of 96k Bitcoin in February, a stark contrast to the figures of the previous four months: 13k, 31k, 5k, and 3k Bitcoin in October, November, December, and January, respectively. The significant increase in February nearly doubles the total inflows observed between October 2023 and January 2024.
Leading up to the launch of spot Bitcoin ETFs, inflows were partially attributed to the ProShares Bitcoin Strategy ETF (BITO) and the Purpose ETF in Canada, each recording an inflow of approximately 8k Bitcoin in November, according to ByteTree.
However, following the approval of US spot Bitcoin ETFs, both BITO and Purpose ETF are experiencing continuous outflows, likely due to investors shifting towards more cost-effective and better-tracked spot ETFs.
According to ByteTree data, global Exchange Traded Products (ETPs) are approaching their all-time high of around 966k Bitcoin, a record achieved in 2021. The surge in ETP holdings is largely driven by the success of spot Bitcoin ETFs in the United States, which have attracted a net flow of approximately $5.5 billion.
In the past 30 days alone, global ETPs have seen a net inflow of over 100k Bitcoin, surpassing the previous 30-day record of 90k Bitcoin set in 2020, as reported by ByteTree.
ByteTree's data reveals a remarkable inflow of 96k Bitcoin in February, a stark contrast to the figures of the previous four months: 13k, 31k, 5k, and 3k Bitcoin in October, November, December, and January, respectively. The significant increase in February nearly doubles the total inflows observed between October 2023 and January 2024.
Leading up to the launch of spot Bitcoin ETFs, inflows were partially attributed to the ProShares Bitcoin Strategy ETF (BITO) and the Purpose ETF in Canada, each recording an inflow of approximately 8k Bitcoin in November, according to ByteTree.
However, following the approval of US spot Bitcoin ETFs, both BITO and Purpose ETF are experiencing continuous outflows, likely due to investors shifting towards more cost-effective and better-tracked spot ETFs.
đą BREAKING: Fidelity International Launches Bitcoin ETP on London Stock Exchange!
đŹđ§ LONDON - Fidelity International has launched the Fidelity Physical Bitcoin Exchange Traded Product (ETP) on the London Stock Exchange, marking its entry into the digital assets market in the UK.
đč Key Highlights:
The ETP aims to track the price movement of Bitcoin, the worldâs leading cryptocurrency.It is physically backed and carries a 0.35% Ongoing Charges Figure.This launch follows the Financial Conduct Authority's decision to allow crypto asset-backed Exchange Traded Notes, available exclusively to professional investors.
đ Market Impact:
Fidelity joins other asset managers like WisdomTree and Global X who have recently introduced digital asset ETPs on the London Stock Exchange.Stefan Kuhn, Fidelity's head of ETF & index distribution in Europe, noted that the approval of the first spot Bitcoin ETFs in the US has sparked global interest in cryptocurrencies.
đŹ Statements:
Stefan Kuhn: âThe FCAâs decision to authorise crypto asset-backed Exchange Traded Notes for professional investors is a positive development and reflects the increasing acceptance and demand of digital assets offered through a secure and regulated exchange. The Fidelity Physical Bitcoin ETP offers professional investors in the UK an institutional quality solution to enter the market in a familiar, simple and secure way.â
đ Background:
The strategy was initially launched in February 2022 on the Deutsche Börse Xetra and the SIX Swiss Exchange.
đ See also: Investors are too optimistic about the second half of the year, warn Natixis strategists.
Stay tuned for more updates on the evolving crypto market! đ
#CryptoNews #Fidelity #BitcoinETP #LondonStockExchang
đŹđ§ LONDON - Fidelity International has launched the Fidelity Physical Bitcoin Exchange Traded Product (ETP) on the London Stock Exchange, marking its entry into the digital assets market in the UK.
đč Key Highlights:
The ETP aims to track the price movement of Bitcoin, the worldâs leading cryptocurrency.It is physically backed and carries a 0.35% Ongoing Charges Figure.This launch follows the Financial Conduct Authority's decision to allow crypto asset-backed Exchange Traded Notes, available exclusively to professional investors.
đ Market Impact:
Fidelity joins other asset managers like WisdomTree and Global X who have recently introduced digital asset ETPs on the London Stock Exchange.Stefan Kuhn, Fidelity's head of ETF & index distribution in Europe, noted that the approval of the first spot Bitcoin ETFs in the US has sparked global interest in cryptocurrencies.
đŹ Statements:
Stefan Kuhn: âThe FCAâs decision to authorise crypto asset-backed Exchange Traded Notes for professional investors is a positive development and reflects the increasing acceptance and demand of digital assets offered through a secure and regulated exchange. The Fidelity Physical Bitcoin ETP offers professional investors in the UK an institutional quality solution to enter the market in a familiar, simple and secure way.â
đ Background:
The strategy was initially launched in February 2022 on the Deutsche Börse Xetra and the SIX Swiss Exchange.
đ See also: Investors are too optimistic about the second half of the year, warn Natixis strategists.
Stay tuned for more updates on the evolving crypto market! đ
#CryptoNews #Fidelity #BitcoinETP #LondonStockExchang
