Bitcoin ETPs Saw Massive Inflows in May Despite the Crypto Market Selloff Catalyzed by UST’s Depeg Event

Summary:

• The period of May saw a beardown betterment successful the inflow of Bitcoin into ETPs, with a full of 9,765 BTC.
• The travel of BTC into Bitcoin ETPs has besides been favorable into June, with the planetary holdings hitting an all-time precocious of 205,008 Bitcoin.
• The Canadian Purpose Bitcoin ETF has led inflows of Bitcoin into ETPs.

The period of May 2022 volition spell down successful past arsenic 1 of the astir tumultuous periods successful the Bitcoin and crypto markets chiefly owed to the crypto-wide sell-off kick-started by UST depegging and consequent monolithic ostentation of LUNA.

The events caused anxiousness and uncertainty surrounding stablecoins globally, starring Bitcoin to deed a section debased of $26,700 from values supra $40k earlier UST started to depeg successful aboriginal May.

Inflows of BTC into Exchange Traded Products Was High successful May

However, according to a report by the squad astatine Arcane Research, May besides saw ‘promising betterment successful the ETP sector.’

Net inflows of Bitcoin into Exchange Traded Products amounted to 9,765 BTC successful the aforesaid month. By the extremity of May, ETPs full holdings of Bitcoin were nearing 200,000 BTC, with this magnitude being surpassed with the caller period of June. The study explained the inflows of BTC into Bitcoin ETPs arsenic follows:

May has seen a beardown betterment successful the BTC ETPs, with planetary nett inflows amounting to 9,765 BTC

This led planetary ETP holdings to turn to 197,536 BTC by the extremity of May. Momentum has further strengthened successful aboriginal June, pushing the planetary BTC ETP holdings to a caller all-time precocious of 205,008 BTC 2 days into June.

The Canadian Purpose ETF Led Bitcoin Inflows into ETPs

In particular, the study highlighted that Canadian BTC ETPs saw monolithic nett inflows of 10,182 Bitcoin successful the period of May and the highest successful 1 year. The surge of Bitcoin inflows was astir wholly directed toward the Canadian Purpose ETFs, further demonstrated by the illustration below, courtesy of the report.

US Bitcoin Inflows Were Low. Australian Bitcoin ETF Off to A Slow Start

With respect to Bitcoin inflows into ETPs successful the United States, the study concluded that US-based BTC ETFs saw a precise dilatory period successful May with nett inflows of 210 BTC.

Similarly, the recently launched Australian Bitcoin ETFs kicked disconnected astatine a dilatory pace, ‘amassing an AUM of 240 BTC 2 weeks aft launching.’