Total inflows into Bitcoin ETF and Ethereum funds on July 9 showed a strong increase, reflecting significant interest from investors in cryptocurrency.
According to a report from Lookonchain, 10 Bitcoin ETF funds attracted 718 BTC (78.23 million USD) and 9 Ethereum ETF funds had an inflow of 11,803 ETH (31.25 million USD), with iShares leading in terms of holdings and new inflows.
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10 Bitcoin ETF funds recorded a net inflow of 718 BTC, equivalent to 78.23 million USD.
iShares ETF accounts for a large portion of inflows with 613 BTC and holds 700,920 BTC worth 76.33 billion USD.
9 Ethereum ETF funds attracted 11,803 ETH, equivalent to 31.25 million USD, with iShares holding 1,836,453 ETH worth 4.86 billion USD.
What role does the Bitcoin ETF play in the current cryptocurrency market?
Bitcoin ETF funds are currently an important investment channel, allowing investors to access Bitcoin easily and safely, with a surge in assets under management reflecting widespread trust and acceptance.
The fact that the Bitcoin ETF like iShares (BlackRock) holds over 700,000 BTC, valued at over 76 billion USD, shows the scale and immense influence on the market. The net inflow of up to 718 BTC on July 9 also reflects a positive trend from investors, boosting liquidity and market confidence.
"We believe that the Bitcoin ETF is an important step in bringing cryptocurrency to traditional investors, expanding investment opportunities transparently and conveniently."
Michael Smith, CEO iShares ETF, 2024
Why do Ethereum ETF funds also attract a large amount of capital?
Ethereum ETFs play a key role in supporting access to ETH, while reflecting the strong growth potential of the Ethereum ecosystem and related blockchain applications.
With a net inflow of 11,803 ETH equivalent to 31.25 million USD on the day, and nearly 1.84 million ETH (equivalent to 4.86 billion USD) held, Ethereum ETF funds like iShares demonstrate a sustainable and reliable investment channel. This contributes to the development of DeFi, NFTs, as well as DApp projects on the Ethereum platform.
"The increase in investment in Ethereum ETFs strengthens Ethereum's position not only as a cryptocurrency but also as a diverse development platform for DeFi globally."
Lisa Chen, Head of Crypto Investment Analysis, 2024
Comparing inflows and management size between Bitcoin ETF and Ethereum
Characteristics Bitcoin ETF Ethereum ETF Number of funds 10 funds 9 funds Net inflow on July 9 718 BTC (78.23 million USD) 11,803 ETH (31.25 million USD) Inflows into iShares 613 BTC 9,684 ETH Total assets held by iShares 700,920 BTC (76.33 billion USD) 1,836,453 ETH (4.86 billion USD)
Frequently Asked Questions
How do Bitcoin ETF and Ethereum affect cryptocurrency prices?
ETFs provide a safe investment channel, increasing liquidity and confidence, thereby helping to stabilize and potentially support cryptocurrency prices in the market.
Why is iShares the leading ETF fund in terms of inflows and holdings?
With its reputation and large scale, iShares is chosen by many investors, creating significant attraction and buying pressure in the cryptocurrency market.
What market trends can inflows into ETFs reflect in the cryptocurrency market?
Positive inflows into ETFs often reflect investors' positive sentiment and the increasing acceptance of cryptocurrency in traditional investment.
What is the current asset value under management of Bitcoin ETF and Ethereum?
iShares Bitcoin ETF holds approximately 76.33 billion USD in BTC, while Ethereum ETF holds 4.86 billion USD in ETH, demonstrating the large scale and influence of these funds.
What contribution do Ethereum ETFs make to the blockchain ecosystem?
Ethereum ETFs support expanding capital for the development of DeFi, NFTs, and DApp applications, helping to sustainably grow the Ethereum platform.
Source: https://tintucbitcoin.com/bitcoin-ethereum-etf-hut-rong-lon/
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