Quick Take
ByteTree has reported a massive influx in the global allocation of Bitcoin among exchange-traded products (ETPs) since October 2023, adding roughly 100,000 BTC.
According to ByteTree data, approximately 890,000 BTC are currently held in varying ETPs worldwide, which is about 4.56% of the circulating supply of Bitcoin. Interestingly, the start of 2024 has seen an increase of about 80,000 BTC in the ETP space, primarily attributed to US-based Bitcoin ETFs.
![Bitcoin held by funds: (Source: ByteTree Research)](https://cryptoslate.com/wp-content/uploads/2024/02/bitcoin.png)
Within the last seven days alone, global Bitcoin ETPs underwent an influx of roughly 25,000 BTC, marking the most significant weekly increase since the early part of 2021.
![Fund Inflows: (Source: ByteTree Research)](https://cryptoslate.com/wp-content/uploads/2024/02/bitcoin-1.png)
February alone contributed an impressive 38,000 BTC net inflow into ETPs, roughly equal to the combined flow for November, December, and January.
![All Funds: (Source: ByteTree Research)](https://cryptoslate.com/wp-content/uploads/2024/02/flow.png)
Glassnode data reports that Grayscale Bitcoin Trust (GBTC) currently holds approximately 466,000 Bitcoin, a significant 30% decline from its peak holdings of about 622,000 Bitcoin before Bitcoin ETFs began trading.
![GBTC ETF Balance: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2024/02/GBTC-2.png)
The post February’s Bitcoin ETP net inflows close to total of previous three months appeared first on CryptoSlate.
Source: https://cryptoslate.com/insights/februarys-bitcoin-etp-net-inflows-roughly-match-total-of-previous-three-months/