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You can also read this news on COINTURK NEWS: Institutional Investors Drive Significant Interest in Bitcoin and Ethereum ETFs
On the last trading day in the U.S., spot Bitcoin 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.
Institutional Interest in Bitcoin and Ethereum Grows
Spot Ethereum 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.
The post Institutional Investors Drive Significant Interest in Bitcoin and Ethereum ETFs appeared first on COINTURK NEWS.