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Bitcoin ETPs Witness Record-Breaking Monthly Inflows: K33 Research
ProShares’ Bitcoin Strategy ETF (BITO) has hit an all-time high bitcoin equivalent exposure of 4,425 BTC.
Updated Jul 19, 2023, 8:29 p.m. Published Jul 19, 2023, 7:12 a.m.
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Crypto investors have poured money into bitcoin exchange-traded products at a record pace ever since BlackRock filed for a spot-based ETF on June 15.
New data from K33 Research shows the BTC-equivalent exposure of ETPs listed worldwide increased by 25,202 BTC ($757 million) to 196,824 BTC in four weeks to July 16. That's the second-highest monthly net inflow, only surpassed by inflows seen following the launch of ProShares’ futures-based ETF and other futures-based ETFs in October 2021, according to K33 Research’s Vetle Lunde.
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The total BTC-equivalent exposure is now at the highest since June 2022.
ETPs are a broad category of listed products that track some sort of underlying financial asset. Exchange Traded Funds (ETFs) are a particular subset of ETPs that typically hold a variety of financial products within a specific theme.
While the Securities and Exchange Commission (SEC) has made the listing of crypto-based ETFs difficult, Europe, in contrast, has a plethora of ETPs available from a range of issuers.
Lunde also noted that BITO has hit an all-time high of bitcoin equivalent exposure of 4,425 BTC. BITO provides investors with bitcoin-linked returns via a regulated product and holds over $1 billion worth of CME Bitcoin Futures.
“BITO spikes have tended to occur near local market tops,” noted. “BITO's overall BTC exposure has structurally been flat from June 2022 until the past week, when the market saw its first notable range breakout.”
In June, BITO recorded its highest-ever weekly inflow as BTC prices crossed $30,000. Toronto-listed bitcoin ETF BTCC, from Purpose Investments, is also reporting a high uptick in inward flow.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin and ether volatility trading gets easier with Polymarket's new contracts
Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices.
Yang perlu diketahui:
- Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices, allowing users to bet on how high volatility will get in 2026.
- The contracts pay out if volatility indices reach or exceed a preset level by Dec. 31, 2026, letting traders wager on the intensity of price swings rather than market direction.
- Early trading implies roughly a one-in-three chance that bitcoin and ether volatility will nearly double from current levels.
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