Bitcoin ETFs have seen a significant influx of funds, as demonstrated by the record-breaking $306 million raised in a single day. This represents the highest daily contribution for these financial products in the month, according to data from Coinglass.
Leading the pack is BlackRock’s iShares Bitcoin Trust, which raised $290 million, followed by the Fidelity Wise Origin Bitcoin Fund, which added $26 million to its holdings. On the other hand, the Bitcoin ETF and VanEck Bitcoin Trust experienced modest withdrawals of $4 million and $6 million, respectively.
Another noteworthy player is the Grayscale Bitcoin Trust. Despite recording a substantial volume of net inflows totaling $72.5 million the previous week, it remained stable without any significant movements on Tuesday.
This accumulation phase in Bitcoin ETFs comes at a time of anticipation within the cryptocurrency community, particularly in relation to Ethereum ETFs. Analysts at Standard Chartered bank point out that the potential approval of an Ethereum ETF by the SEC could have a significant positive impact on both Ethereum and Bitcoin.
The VanEck Ethereum ETF is currently listed on the active and pre-launch lists of the Depository Trust and Clearing Corporation, indicating that there may be market movement in the near future. However, past listings suggest that immediate approval is not guaranteed.
Disclaimer: The views and opinions expressed in this article, by the author or anyone mentioned, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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