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Reading: Demand for Bitcoin and Ethereum ETFs Grows Steadily
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COINTURK NEWS > Cryptocurrency News > Demand for Bitcoin and Ethereum ETFs Grows Steadily
Cryptocurrency News

Demand for Bitcoin and Ethereum ETFs Grows Steadily

In Brief

  • Spot Bitcoin ETFs in the U.S. continue to attract substantial investment.

  • Interest in spot Ethereum ETFs remains weak compared to Bitcoin ETFs.

  • Bitcoin ETFs are nearing a total of 1 million BTC in assets under management.

İlayda Peker
İlayda Peker 7 months ago
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Demand for spot Bitcoin $105,367 and Ethereum $2,662 ETFs in the United States continues to grow, characterized by significant net inflows. As of October 24, 2024, there have been total net inflows of $187.5 million into spot Bitcoin ETFs and $2.3 million into spot Ethereum ETFs.

Contents
Strong Increase in Bitcoin ETFsLimited Interest in Ethereum ETFs

Strong Increase in Bitcoin ETFs

As of October 24, the 11 spot Bitcoin ETFs in the United States have registered positive net inflows for the second consecutive day. BlackRock’s iShares Bitcoin Trust (IBIT) ETF has sustained its lead as the most inflow-generating fund for eight consecutive days, pulling in 2,436 BTC (approximately $165 million) yesterday. Currently, IBIT holds 399,355 BTC (worth $27.16 billion), representing more than 2% of the total supply.

While eight of the remaining ten ETFs did not experience net inflows, the total net inflow for spot Bitcoin ETFs has reached $21.57 billion after 199 trading days.

Limited Interest in Ethereum ETFs

Positive net inflows continue for spot Ethereum ETFs, but there has been a weak increase over the past two days. Only BlackRock’s iShares Ethereum Trust (ETHA) ETF recorded net inflows, while the other eight Ethereum ETFs saw no net inflows. The total net inflow for spot Ethereum ETFs in the United States stands at a negative $478 million after 67 trading days.

Meanwhile, spot Bitcoin ETFs in the U.S. are on track to reach approximately 1 million BTC within 10 months of trading. Currently, these funds hold a total of 967,459 BTC. If demand persists, these ETFs are projected to surpass the holdings of Satoshi Nakamoto, estimated at 1.1 million BTC. BlackRock’s iShares Bitcoin Trust ETF currently possesses 396,922 BTC, while Binance holds 636,000 BTC on behalf of its clients.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 25 October, 2024 - 12:31 pm 25 October, 2024 - 12:31 pm
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