Bitcoin ETFs have seen a substantial influx of capital, as evidenced by the record-breaking $306 million in new funds registered just yesterday. This marks the highest daily contribution observed this month for these financial products, according to data from Coinglass.
Leading the pack is BlackRock’s iShares Bitcoin Trust, which raised an impressive $290 million. The Fidelity Wise Origin Bitcoin Fund also added $26 million to its holdings. On the other hand, the Bitcoin ETF and VanEck Bitcoin Trust saw modest withdrawals of $4 million and $6 million, respectively.
It’s worth noting the Grayscale Bitcoin Trust, which despite recording a significant volume of net inflows totaling $72.5 million in the previous week, remained stable without any major movements last Tuesday.
This accumulation phase in Bitcoin ETFs is occurring at a time of great anticipation within the cryptocurrency community, particularly in relation to Ethereum ETFs. Analysts at Standard Chartered bank suggest that the potential approval of an Ethereum ETF by the SEC could have a significant positive impact on both Ethereum and Bitcoin.
The VanEck Ethereum ETF is currently listed on both the active and pre-launch lists of the Depository Trust and Clearing Corporation, indicating that market movement may be imminent. However, it should be noted that similar listings in the past do not guarantee immediate approval.
Disclaimer: The views and opinions expressed in this article, as well as those of any individuals mentioned, are solely for informational purposes and do not constitute financial, investment, or any other form of advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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