Bitcoin ETPs have been experiencing some immense outflows. These have not come as a surprise though given that the price of the digital asset had crumbled last week. It has followed the price of bitcoin falling below $40,000 once again, leading to bearish sentiment among investors. This in turn has put immense selling pressures on other investors who have gained exposure to the market using trading investment vehicles such as ETPs. Outflows Rock Bitcoin ETPs Before this month, Bitcoin ETPs had enjoyed a prosperous month of inflows as faith was renewed in the digital asset following its campaign above $40,000. It was the strongest month in the history of these ETPs since October last year with more than 10,000 BTC in inflow recorded. However, the month of April would prove to be the complete opposite as outflows so far for the month have been almost as high as inflows for the month of March and the month is not even over yet. This constitutes one of the largest outflows recorded for any month since the inception of Bitcoin ETPs. The last being in July 2021 when outflows had touched 13,849 BTC, Related Reading | How Bitcoin Futures Premiums Exhibit Signs Of Market Exhaustion April has been following this trend hard with more than 9,871 BTC and counting so far. Although a reversal of this trend could very well take place in the remaining days of the month. This is the second-largest outflow ever recorded and the direct effec...
