Bitcoin Enters New Highs with ETP Dominance, But Institutional Flows Slow Down

Bitcoin’s recent surge to new highs has been fueled by strong institutional demand, particularly evident in the growing presence of Exchange-Traded Products (ETPs). According to data from HODL15Capital, Bitcoin holdings within ETPs now exceed 1.47 million BTC, representing approximately 7% of the total supply. This significant proportion is largely attributed to U.S. spot Bitcoin ETFs which have been a major driver of institutional investment.