In tune with the flow: April BTC ETP Recap

April saw record-breaking monthly net outflows of 14,327 BTC from BTC ETPs, surpassing the previous July record, further illustrating the poor state of the market this month.

April: Key takeaways

  • April saw the largest monthly net outflows in the BTC ETP history, with outflows amounting to 14,327 BTC reversing all gains seen in March.

  • The global bitcoin holdings of BTC ETPs shrank to 187,000 BTC by the end of the month.

  • All regions except Brazil saw net outflows. Brazil saw minor net inflows but remains small in a global context.

  • Canadian ETFs saw massive outflows in April, amounting to 7,100 BTC, or a 10% decline in BTC under management compared to the end of March.

  • US BTC ETFs saw their worst month since launch, seeing monthly net outflows equivalent to 3,312 BTC, with all outflows originating from BITO. The BTC exposure of US ETFs declined by 11% in April.

  • Europe saw outflows amounting to 3,974 BTC in April. European ETPs have seen net outflows in 10 out of 16 months since January 2021. The April outflows in European ETPs were smaller than the Canadian ETFs, leading the European dominance to increase slightly.

  • Crypto ETFs will soon go live in Australia. One of these ETFs will offer direct exposure, while others will hold Canadian BTC ETFs, which might be positive for Canadian ETFs.

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