Bitcoin

Ethereum

<p>This week, spot <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum</a> and <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs witnessed a noteworthy dip in inflows. As per a popular on-chain analytics firm Spot On Chain, Bitcoin ETFs witnessed $995M in inflows while Ethereum ETFs added just $24.7M this week, mirroring a sharp decline in comparison with the previous weeks. The analytics provider discussed the current status of the crypto ETF market on social media.</p><h2 id="header-0">BlackRock’s $IBIT Acquires 17,111 $BTC, Indicating Confidence in Bitcoin’s Long-Term Potential</h2><p>Spot On Chain mentioned that a significant shift has taken place in investor sentiment from October 21 to October 25. However, despite the overall dip in inflows, the world’s biggest asset manager “BlackRock” emerged as a prominent Bitcoin buyer. With iShares Bitcoin Trust ($IBIT) of BlackRock, it acquired 17,111 $BTC tokens this week. This amount equals $1.14B in terms of value. With this, the cumulative holdings of the ETF have reached a staggering 403,726 $BTC.</p><h2 id="header-1">Ethereum ETFs Sees a Sheer Dip in Inflows, Reaching $24.7M This Week</h2><p>On the other hand, Ethereum ETFs recorded a huge drop in terms of inflows. The total inflows of Ethereum exchange-traded funds plunged to only $24.7M throughout the week. This noteworthy development signifies a shift in the behavior of investors. In this respect, they are reportedly preferring $BTC over $ETH at the moment. Although Ethereum maintains a significant position in the blockchain sector, the bigger pull toward the top crypto asset could be a result of its popularity as a “digital gold.”</p><h2 id="header-2">The Slump in Spot Crypto ETFs Denotes a Change in Investor Sentiment Based on Macroeconomic Scenario</h2><p>The overall decreased inflows of $ETH and $BTC ETFs come after resilient trading weeks. In the former weeks, substantial investor activity took place after the expectations of the regulatory approvals in the case of Bitcoin ETFs. Market onlookers attribute the current slowdown to profit-taking in the hands of early investors. Hence, retail investors are exercising a cautious approach because of the prevailing macroeconomic environment.</p><p>However, BlackRock’s buying strategy keeps making waves in the overall crypto market. This reflects an optimistic view of Bitcoin’s long-term potential and contribution to worldwide finance. BlackRock’s $IBIT ETF holds 403,726 $BTC, representing a remarkable exposure to the crypto market. In general, the accumulation by <a href="https://blackrock.com/" rel="noopener noreferrer nofollow">BlackRock</a> offers a resilient indication of the durability of Bitcoin for smaller and retail investors.</p>

Spot Bitcoin and Ethereum ETFs See a Dip in Weekly Inflows

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