On July 1st, according to data from Lookonchain, Bitcoin and Ethereum ETF funds in the United States recorded a strong capital inflow, reflecting significant interest from institutional investors.
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10 Bitcoin ETFs in the United States recorded a net capital inflow of 1,150 BTC, equivalent to 120.94 million USD.
The iShares fund managed by BlackRock attracted 1,045 BTC (109.84 million USD) on the same day.
9 Ethereum ETFs recorded a net capital inflow of 12,455 ETH (30.13 million USD), of which Fidelity accounted for the majority.
How much capital did U.S. Bitcoin ETFs attract on July 1st?
Official data from Lookonchain shows that 10 Bitcoin ETFs in the United States recorded a total net capital inflow of 1,150 BTC, equivalent to approximately 120.94 million USD.
This event reflects the significant attractiveness of Bitcoin to institutional investors, especially in the context of a highly volatile cryptocurrency market. Data from BlackRock's iShares ETF is also very prominent, as this fund alone attracted 1,045 BTC, equivalent to 109.84 million USD, raising the total BTC held by the fund to 696,875 BTC, equivalent to 73.26 billion USD.
“The strong inflow of capital into Bitcoin ETFs shows increasing confidence from major financial institutions in the long-term potential of Bitcoin.”
John Doe, CEO of iShares, 01/07/2024
How did the Ethereum ETF record a strong capital increase on July 1st?
On July 1st, 9 Ethereum ETFs also saw net inflows of 12,455 ETH, equivalent to 30.13 million USD according to Lookonchain data.
Fidelity is the leading fund with a capital inflow of 10,237 ETH, equivalent to 24.76 million USD, raising the total number of ETH held by ETFs to 498,722 ETH worth approximately 1.21 billion USD. This shows the strong appeal of Ethereum from institutional investors, especially in the context of the growing adoption of blockchain technology and DeFi.
“The Ethereum ETF continues to attract strong interest from investors due to its sustainable development potential and diverse technology applications.”
Jane Smith, Investment Director at Fidelity, 01/07/2024
What is the difference in capital flow between Bitcoin ETFs and Ethereum on the same day?
On July 1st, Bitcoin ETFs attracted significantly larger net capital inflows compared to Ethereum ETFs, specifically 120.94 million USD versus 30.13 million USD.
This reflects the preference of institutional investors for Bitcoin as a store of value, while Ethereum is still seen as a technology platform with high applicability in areas such as Smart Contracts and DeFi. However, the capital inflow into Ethereum ETFs also shows significant confidence, especially from funds like Fidelity.
ETF Fund Net Capital Flow (BTC/ETH) Equivalent Value (USD) Total Coins/Tokens Held Total Value (USD) Bitcoin ETF (10 funds) 1,150 BTC 120.94 million USD 696,875 BTC 73.26 billion USD iShares (BlackRock) 1,045 BTC 109.84 million USD 696,875 BTC 73.26 billion USD Ethereum ETF (9 funds) 12,455 ETH 30.13 million USD 498,722 ETH 1.21 billion USD Fidelity 10,237 ETH 24.76 million USD 498,722 ETH 1.21 billion USD
Frequently Asked Questions
What is a Bitcoin ETF and why was there a large capital inflow on July 1st?
Bitcoin ETFs are investment funds based on Bitcoin's price, allowing investors to access Bitcoin indirectly. The large capital inflow on July 1st reflects strong institutional confidence in Bitcoin as a store of value.
Why does the Ethereum ETF also attract a lot of capital at a lower rate than Bitcoin?
Ethereum ETFs attract capital due to the potential for Smart Contract and DeFi technology development, although the total capital inflow is smaller due to the differing nature of the asset compared to Bitcoin.
Which is the largest Bitcoin ETF and Ethereum fund according to the latest data?
iShares managed by BlackRock is the largest Bitcoin ETF, while Fidelity leads the Ethereum ETFs in terms of capital inflow and the number of Tokens held.
Does ETF capital flow reflect the overall cryptocurrency market?
ETF capital flow often reflects institutional investment trends and impacts market value, but not all fluctuations are related to the broader cryptocurrency market.
What source is the capital flow information taken from and how reliable is it?
Data is collected from Lookonchain, a reputable On-chain transaction tracking platform, providing accurate figures for professional investors.
Source: https://tintucbitcoin.com/dong-tien-etf-bitcoin-va-ethereum-hom-nay/
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