2024

Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/institutional-investors-drive-bitcoin-etf-growth-in-q2-2024/" data-wpel-link="internal">Institutional Investors Drive Bitcoin ETF Growth in Q2 2024</a> 
Institutional spot <a href="https://en.coin-turk.com/developments-in-the-spot-bitcoin-etf-process-influence-crypto-market-trends/" data-wpel-link="internal">Bitcoin</a> investment funds saw significant growth in Q2 2024 despite Bitcoin’s recent correction. The adoption of US-based spot Bitcoin ETF funds by institutions grew by more than 27% in Q2 2024. According to Vetle Lunde, a senior analyst at K33 Research, over 262 new firms invested in spot Bitcoin ETF funds. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-etf-sector">What’s Happening in the ETF Sector?</h2> 
Vetle Lunde mentioned in a post on X on August 16: 
<blockquote> 
 “According to 13F filings, as of June 30, 1,199 professional firms invested in US spot ETF funds, marking an increase of 262 firms this last quarter.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380590 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/k33.jpg" alt="" width="1764" height="1006"> 
The continued adoption of institutional ETFs could significantly increase Bitcoin’s price due to the large amount of capital institutions can move in crypto markets. For Bitcoin to reach new all-time highs, institutional adoption must continue. 
According to Lunde, despite the increasing adoption of Bitcoin ETF funds by institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, individual investors remain the largest holding group: 
<blockquote> 
 “While individual investors still hold the majority of outstanding shares, institutional investors increased their share of total AUM by 2.41 points to reach 21.15% in Q2.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380589 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/13f.jpg" alt="" width="1789" height="1048"> 
<h2 class="p1" style="text-align: justify" id="details-on-the-matter">Details on the Matter</h2> 
Institutional investors held only 18.7% of the total ETF assets under management (AUM) in Q1 2024. Despite increased institutional portfolio allocation to US Bitcoin ETF funds, Bitcoin’s price struggles to surpass the $60,000 psychological level. Bitcoin fell below $60,000 on August 14. The world’s first cryptocurrency was trading at $58,370, down 3.3% on the weekly chart at the time of writing. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380588 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-6.webp" alt="" width="1155" height="736"> 
Bitcoin ETF inflows, which contribute to price declines, remain stagnant. According to Farside Investors <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, ETF inflows turned positive on August 15 with over $11 million in inflows. However, this is much less than the cumulative outflows of $81.4 million recorded on August 14. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-380587 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/flow-2.webp" alt="" width="733" height="655"> 
ETF inflows can significantly contribute to the price increase of a cryptocurrency. For Bitcoin, when ETFs surpassed the $50,000 mark on February 15, new investments in the cryptocurrency accounted for about 75% of the total. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/institutional-investors-drive-bitcoin-etf-growth-in-q2-2024/" data-wpel-link="internal">Institutional Investors Drive Bitcoin ETF Growth in Q2 2024</a></h5>
The post <a href="https://en.coin-turk.com/institutional-investors-drive-bitcoin-etf-growth-in-q2-2024/" data-wpel-link="internal">Institutional Investors Drive Bitcoin ETF Growth in Q2 2024</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Institutional Investors Drive Bitcoin ETF Growth in Q2 2024

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