In March, Bitcoin ETPs (exchange traded products) had an excellent month. BTC assets under administration had increased exponentially during this period, reaching a new high. These ETPs have seen an increase in inflows over the past month. Because all BTC products saw positive net flows during this period, March has been one of bitcoin’s most profitable months.
Bitcoin AUM Hits New All-Time High
It was remarkable to see the bitcoin AUM increase in March. These numbers indicate that this is the largest growth trend ever seen in this area. This was followed by the leap that occurred in November 2021. In February, there was a total of 190,165 BTC under management. By March 31, however, the total asset under management had risen to 202 437 BTC. This represented a new record in BTC management.
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These net inflows were significant for March. Last month, 12,727 BTC were transferred into ETPs. It was the first month that ETPs saw the largest inflows of digital assets since November. The inflows were all over the board and from all parts of the world.
BTC ETPs reached a new record in March -- Source: Arcane Research| Source: Arcane Research
Canadian ETFs are an excellent example. They saw their highest growth last month. In this time, they were able to grow their AUM total by 6,066 BTC. ProShares recorded positive inflows. It was able to overcome the lackluster momentum it experienced in the previous months due to its rolling costs.
It was also felt throughout Europe. A switch was made in the area that has been experiencing net outflows during the past three months. The March reversal was marked by substantial inflows.
Source: BTCUSD on TradingView.com| Source: BTCUSD on TradingView.com
The bitcoin recovery is responsible for most of the inflows. During the rolling week in March, Bitcoin had seen more strength on the backdrop of the LFG’s Bitcoin Reserve Strategy. This had resulted in a greater value of the digital asset and also saw exponential growth in ETPs.
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The month of March was a positive one for BTC-ETPs. There is no doubt that demand for this digital asset is growing. Retail investors are looking for a larger share of the crypto-asset pie, but the legacy markets also want more exposure.
Featured image by FXLeaders. Chart courtesy of TradingView.com