Crypto brokerage company K33 Research released a report the other day revealing that need for Bitcoin (BTC) direct exposure through exchange-traded items (ETPs) has actually reached an all-time high. Bitcoin direct exposure through ETPs reached 204,170 BTC ($7.4 billion) on November 12, breaking the previous all-time high of 200,573 BTC embeded in April 2022.
According to Anders Helseth, Head of Research at K33, and Vetle Lunde, Senior Analyst at K33, all-time high BTC ETP direct exposure shows the growing institutional cravings for Bitcoin ahead of a crucial due date for area Bitcoin exchange-traded fund (ETF) approvals.
An ETP is an umbrella term describing any security that trades on an exchange, consisting of ETFs, exchange-traded notes (ETNs), and exchange-traded products (ETCs).
The overall BTC direct exposure from ETPs worldwide grew by 27,095 BTC ($982 million) over the previous month, exceeding the June-July inflows following BlackRock's ETF filing. Crypto financial investment items from possession supervisors such as VanEck, Bitwise, CSOP, Samsung, Volatility Shares, ProShares, and others saw record inflows.
Helseth specified that constantly high CME Bitcoin futures direct exposure and considerable BTC ETP inflows point towards strong institutional need for Bitcoin direct exposure as the SEC's ETF choice due date on November 17 techniques.
Lunde kept in mind that crypto native traders do not share the very same bullish optimism,
