You Can Now Invest in Ethereum ETFs in the US!
It’s official – the United States Securities and Exchange Commission (SEC) has given the green light for the listing of Ethereum exchange-traded funds (ETFs). While this news has been making waves in the investment community, let’s take a closer look at what this means for you and the broader crypto market.
Bitcoin Spot ETF Market Resurgence
Recently, the Bitcoin spot ETF market has been experiencing a resurgence with consistent positive inflows. This marks a significant change from previous weeks when investment activity was tepid. The consecutive weeks of positive inflows indicate a renewed sense of confidence among investors.
– On May 24, the US Bitcoin spot ETF market saw a notable net inflow of $252 million in a single day.
– BlackRock’s IBIT ETF led the pack with an inflow of $182 million.
– Grayscale Bitcoin Trust (GBTC) did not see any inflow or outflow on that day.
– Other ETF issuers like Fidelity, Bitwise, and ARK Investment also experienced substantial inflows.
– Fidelity’s FBTC garnered around $43.7 million in investments.
This influx of funds suggests a resurgence in investor confidence in Bitcoin ETFs, reminiscent of previous highs that coincided with the cryptocurrency reaching new price records.
With Ethereum ETFs poised to enter the US market, cryptocurrency exchange-traded products are gaining popularity. These developments could serve as a catalyst for Bitcoin and the broader crypto market to reignite the remaining bull cycle.
Bitcoin Price Update
Currently, Bitcoin is valued at $68,868, reflecting a 2.5% increase in the last 24 hours. Over the past week, the leading cryptocurrency has grown by 3% based on CoinGecko data.
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