March was the strongest month in terms of inflows to the BTC ETPs since October, but April is currently on the path towards a different extreme, as BTC ETPs have experienced net outflows of 9,871 BTC in the first two weeks of April.

March was the strongest month in terms of inflows to the BTC ETPs since October, but April is currently on the path towards a different extreme, as BTC ETPs have experienced net outflows of 9,871 BTC in the first two weeks of April.

While we’re only halfway into April, these outflows are currently the second largest outflows seen in the BTC ETP history, only surpassed by the 13,849 BTC net outflows seen in July 2021.

The flows may change in the remaining weeks of April, but as of now, it paints a picture of both caution and strong selling pressure from investors using traditional investment vehicles for their bitcoin exposure.

This should not necessarily be viewed as a bearish signal. The massive outflows in July 2021 coincided with the climax of the summer sell-off.