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COINTURK NEWS > Cryptocurrency News > Institutional Investors Drive Significant Interest in Bitcoin and Ethereum ETFs
Cryptocurrency News

Institutional Investors Drive Significant Interest in Bitcoin and Ethereum ETFs

In Brief

  • Spot Bitcoin ETFs saw a large inflow of $510 million recently.

  • Institutional interest in Bitcoin and Ethereum continues to grow significantly.

  • The positive trend in Ethereum ETFs indicates lasting confidence in the crypto market.

İlayda Peker
İlayda Peker 6 months ago
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On the last trading day in the U.S., spot Bitcoin $104,024 ETFs experienced a substantial inflow of $510 million. BlackRock’s IBIT ETF led the charge with an inflow of $230 million, bringing the total accumulated inflows to $29.15 billion. Fidelity’s FBTC added significantly with a contribution of $186 million. This development indicates a growing institutional interest in Bitcoin ETFs and reflects an upward momentum in the cryptocurrency market.

Contents
Institutional Interest in Bitcoin and Ethereum GrowsSix Consecutive Days of Positive Close for Ethereum

Institutional Interest in Bitcoin and Ethereum Grows

Spot Ethereum $2,555 ETFs are witnessing activities similar to those of spot Bitcoin ETFs. Ethereum ETFs completed their sixth consecutive day with positive results, seeing a net inflow of $147 million. Fidelity’s FETH ETF attracted $102 million in a single day, taking the lead in this sector. The heightened interest from institutional investors is contributing to the appreciation of the altcoin king and fostering a positive sentiment across the market.

Institutional investors continue to increase their interest in cryptocurrencies such as Bitcoin and Ethereum. Thanks to this demand, Bitcoin’s price has exceeded $92,000, reaching new highs. The shift of investors towards cryptocurrencies through ETF products is seen as a sign of future confidence in the crypto market. Particularly, this investment wave led by major financial institutions like BlackRock and Fidelity reinforces corporate trust in the market.

Six Consecutive Days of Positive Close for Ethereum

In light of these developments, spot Ethereum ETFs have shown positive trends for six consecutive days, attracting new inflows every trading day. This series of positive inflows is significant as it indicates sustained institutional demand for cryptocurrencies. The increase of $147 million in spot Ethereum ETFs suggests that investors view the altcoin king as a long-term value asset. The strong demand for Fidelity’s spot Ethereum ETF highlights the market’s confidence in Ethereum.

Given these trends, it is anticipated that institutional interest in the cryptocurrency market will continue to rise. The increased investment in spot ETFs for assets like Bitcoin and Ethereum further strengthens their position in the financial system.

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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 14 November, 2024 - 12:09 pm 14 November, 2024 - 12:09 pm
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