|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin and Ethereum ETFs See Huge Inflows as Trump's Win Sparks Market Optimism
Nov 19, 2024 at 01:00 am
The rally in spot Bitcoin ETFs is being fueled by a mix of factors, including the political landscape, with Trump's win sparking broader market optimism.
Spot Bitcoin ETFs continue to rally, recording a massive $1.7 billion in inflows during the week of Nov. 11-15. This marks the sixth consecutive week of growth for the ETFs, which now have total assets under management (AUM) of $95.4 billion.
To put this in perspective, the total AUM for Bitcoin ETFs now accounts for 5.27% of BTC’s market capitalization of $1.8 trillion.
This surge in inflows is a clear indication of the strong institutional demand for exposure to Bitcoin, especially as the cryptocurrency keeps hitting new all-time highs.
The rally in spot Bitcoin ETFs began after the SEC finally approved the first U.S. exchange-traded fund (ETF) linked to the price of Bitcoin on Oct. 19. The approval came after years of waiting and anticipation from the crypto community.
The ETF, called ProShares Bitcoin Strategy ETF (BITO), debuted on the New York Stock Exchange on Oct. 20 and quickly gathered over $1 billion in inflows on its first day of trading.
Since then, several other spot Bitcoin ETFs have been launched, including the Invesco Bitcoin Strategy ETF (PBTC), the Valkyrie Bitcoin Strategy ETF (BTF), and the VanEck Bitcoin Strategy ETF (XBTF).
Together, these ETFs have been attracting huge amounts of資金 from institutional investors who are seeking an easy and efficient way to gain exposure to Bitcoin without having to directly purchase and store the cryptocurrency themselves.
According to SoSoValue, the crypto market was valued at around $420 billion at the end of last week, showing a slight decrease from the recent highs of over $435 billion.
However, the market still managed to add around $20 billion in the past seven days, continuing the overall روند صعودي.
Bitcoin’s dominance also saw a slight decrease, dropping to 70.4% from 71.4% the previous week. Meanwhile, Ethereum’s dominance rose to 21.1% from 20.4%.
Don't Miss our Black Friday Offers:
Big Investors Double Down on Bitcoin ETFsThis enthusiasm isn’t just limited to retail investors—big names in finance are also jumping on the Bitcoin ETF bandwagon.
According to CoinTelegraph, hedge fund mogul Paul Tudor Jones, for example, upped his stake in BlackRock’s IBIT by $130 million in Q3, bringing his total holdings to nearly $160 million.
This move makes Jones one of the top 10 holders of IBIT shares, alongside major institutions like Goldman Sachs (GS).
As Bitcoin’s price continues to climb, these high-profile investors seem to be betting heavily on the crypto market’s long-term growth.
Ethereum ETFs Join the RallyIt’s not just Bitcoin that’s seeing a boost—Ethereum ETFs are also attracting serious attention.
Spot Ethereum ETFs recorded $515 million in inflows during the same week, extending a three-week streak of positive growth.
Over the past three weeks, total Ethereum ETF inflows have reached $682 million.
This suggests that institutional investors are not only interested in Bitcoin but also see value in Ethereum’s potential.
Investors can choose which Ethereum ETF best suits them on TipRanks’ Ethereum ETF Comparison tool.
Bitcoin Hits New Heights as ETFs ThriveThe influx of funds into Bitcoin ETFs couldn’t be timed better, as Bitcoin itself continues to break records.
The cryptocurrency surged past $90,000 for the first time on Nov. 12, reaching a new all-time high of $92,400 the next day.
The boost in Bitcoin’s price has clearly encouraged institutional players to continue betting on its future.
BlackRock’s iShares Bitcoin Trust (IBIT) has led the way with a staggering $29.3 billion in cumulative inflows since the launch of spot Bitcoin ETFs.
CoinShares reported that global crypto ETF inflows topped $2.2 billion last week, with a notable $866 million flowing out midweek, likely due to profit-taking after Bitcoin’s highs.
At the time of writing, Bitcoin is sitting at $92,045.60.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- BlockDAG Enters Audit Phase as It Completes Mainnet Development
- Nov 19, 2024 at 05:15 am
- Big things are happening in crypto, and the latest developments are sure to turn heads. BlockDAG (BDAG) is making significant strides with the completion of its mainnet development and progression into the audit phase, cementing its place among the top cryptos for 2024.