In a financial context increasingly marked by institutional adoption and the evolution of digital assets, Bitcoin (BTC) has reached a new milestone.
Exchange-traded products (ETPs) offering exposure to this cryptocurrency have seen exponential growth, surpassing an all-time high by reaching 204,170 BTC, valued at approximately $7.4 billion on November 12.
This achievement surpasses the previous record set in April 2022, with 200,573 BTC.
The report, published by K33 Research, highlights this increase as a clear indication of growing institutional interest in Bitcoin.
The anticipation of the approval of Bitcoin exchange-traded funds (ETFs) in the spot market has generated notable demand in these ETPs, which encompass a variety of financial instruments, such as ETFs, exchange-traded notes (ETNs) and securities products. investment in exchange-traded commodities (ETCs).
Increase in Total Bitcoin Exposure via ETPs Over the Past Month Far Exceeds the Flows in June and July
Additionally, a record flow of cryptocurrency investment products has been observed from renowned asset managers such as VanEck, Bitwise, CSOP, Samsung, Volatility Shares, ProShares, among others.
The report also reveals that Bitcoin futures open interest on the Chicago Mercantile Exchange (CME) has maintained an upward trend, exceeding 110,000 BTC and cementing the CME as the leading Bitcoin derivatives exchange, surpassing Binance in terms of interest. open.
Despite this institutional enthusiasm, native cryptocurrency traders do not share the same optimism. Futures perpetual funding rates on major exchanges have fallen to 19-month lows, showing some caution among this group of traders.
The SEC’s decision on Bitcoin ETFs for the spot market is scheduled for November 17. After this date, simultaneous acceptance of new submissions will no longer be possible, bringing attention to the January 10 deadline.
Meanwhile, the price of Bitcoin shows stability and strong, changing 2.7% in the last 24 hours according to data from CoinMarketCap around the $36,990.
This occurs amid a financial scenario that witnesses continued and growing institutional interest in the market-leading cryptocurrency.
