Over 200K BTC now stored in Bitcoin ETFs and other institutional products
— Arcane — 1 min read
Bitcoin (BTC) investment vehicles are seeing “gargantuan” inflows this month, data shows. Bitcoin ETPs have seen a flurry of interest from institutional investors both this month and last. In the first few days of June alone, more than 7,000 BTC flowed to the investment vehicles, almost as much as for the entirety of May. The Purpose Bitcoin ETF, the first Bitcoin spot price ETF to launch anywhere in the world, meanwhile had $1.294 billion worth of assets under management as of June 3. The Grayscale Bitcoin Trust (GBTC) continues to trade near a record discount to the Bitcoin Spot price, currently 28.68% according to Coinglass data, according to data. Source