Report: With European Bitcoin ETPs going strong, here’s what’s in store for BTC

ambcrypto.com:

A new study by Arcane Research has stated that the global Bitcoin ETP holdings have reached an all-time high. The month of May was already a productive month for ETPs but June has already witnessed the momentum soar higher. However, the ETP holdings are not consistent across the world with Europe still indicating the rule of the bears.

The latest Arcane study titled “In Tune with the Flow” has shed light on the stunning BTC ETP recovery in May. While the larger crypto markets fluctuated, Bitcoin ETP holdings mounted a recovery after a dip in April. The global net inflows amounted to 9,765 BTC, which eventually skyrocketed to an all-time high of 205,008 BTC on 3 June.

Source: Arcane Research

Canada should be credited for “pulling the strings” as Canadian ETFs displayed their strongest inflows since May 2021. By the end of May 2022, Canadian ETFs reached an all-time high BUM of 75,333 BTC.

Source: Arcane Research

“As of the end of May, European ETPs still dominate the ETP market, but the strong growth in Canadian ETPs suggests that the European hegemony as the leading ETP region will end.”

The overall BTC ETFs in the United States saw a “slow month” in May after seeing net inflows of 210 BTC. While inflows remained slow, they did see promising growth towards the end of May and early June. This led the BITO’s Bitcoin ETFs to reach their highest level since April.

Source: Arcane Research

Furthermore, Brazil is another country that saw a stagnant month after seeing net inflows of 37 BTC. While flows have remained on the lower end since the launch, the country is yet to see outflows in its BTC ETF market.

European ETPs are losing further ground on Canada after witnessing another month of net outflows. The tendencies within the European