Bitcoin ETPs Now Hold 7% of Max Supply Amid Shifting Investor Sentiment
Bitcoin exchange-traded products (ETPs) have amassed 1.47 million BTC, representing 7% of the total supply. US-based ETFs lead this trend, with BlackRock's IBIT and Fidelity's FBTC holding significant portions.
Globally, ETPs added over 170,000 BTC in recent months. However, August saw net outflows of $301 million from Bitcoin ETPs, while Ethereum funds attracted $3.95 billion.
This shift suggests capital rotation, with whales reallocating billions from Bitcoin to Ether. Factors like September's historically weak performance and pending ETF decisions on Solana and XRP may influence Bitcoin's momentum.