On July 10, 2024, significant capital flowed into Bitcoin and Ethereum ETFs, with iShares leading in asset holdings.
Data recorded a total of 1,827 Bitcoin and nearly 77 thousand Ethereum poured into ETFs on that day, significantly boosting managed assets and reflecting strong investor confidence.
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The inflow into 10 Bitcoin ETF funds reached 1,827 BTC (~$203 million) in one day.
iShares (BlackRock) leads by attracting 1,136 Bitcoin and holding 702,056 BTC (~$78.09 billion).
9 Ethereum ETF funds have seen inflows of 76,940 ETH (~$215 million), with iShares holding 1,894,254 ETH (~$5.28 billion).
How much capital flowed into Bitcoin ETF on July 10, 2024?
Based on Lookonchain data, 10 Bitcoin ETF funds received a net inflow of 1,827 Bitcoin, approximately $203 million at current exchange rates.
Among them, iShares, one of the largest ETFs managed by BlackRock, has attracted 1,136 new Bitcoin. The total amount of Bitcoin that iShares currently holds exceeds 700 thousand, worth about $78.09 billion. This reflects the strong position and trust of investors in this fund in the current cryptocurrency market environment.
"The rate of asset growth in Bitcoin ETF funds indicates a growing institutional demand for cryptocurrency, especially as the regulatory environment becomes clearer."
Nguyen Van Hung, CEO of a cryptocurrency financial consulting firm, July 2024
What is the inflow into Ethereum ETF and the role of iShares?
On July 10, 2024, the total amount of Ethereum in 9 ETF funds recorded is 76,940, equivalent to about $215 million.
iShares continues to play a leading role, attracting 57,801 Ethereum in a day, raising its total Ethereum holdings to nearly 1.9 million, valued at approximately $5.28 billion. iShares' strong commitment contributes to investor confidence in the Ethereum market, especially amid technological upgrades and the increasing popularity of Smart Contracts.
Comparing asset growth between Bitcoin ETF and Ethereum ETF
Data from Lookonchain shows a clear preference for Bitcoin in ETFs; however, Ethereum also demonstrates impressive growth thanks to developing DeFi and NFT applications.
Criteria Bitcoin ETF (10 funds) Ethereum ETF (9 funds) Inflow (on July 10, 2024) 1,827 BTC (~$203 million) 76,940 ETH (~$215 million) Number of coins held by iShares 702,056 BTC (~$78.09 billion) 1,894,254 ETH (~$5.28 billion) Inflow ratio from iShares 62% (1,136 BTC) 75% (57,801 ETH)
Why is there a large capital inflow into iShares ETF?
iShares has a top reputation in fund management and international credibility, attracting substantial capital inflows. Their ETF products offer high liquidity, reasonable management costs, and transparent legality.
These factors, along with the trend of institutionalizing cryptocurrency investment, have allowed iShares not only to maintain its leading position but also to continuously expand its managed asset scale.
"Easy access and investment safety are the top reasons why institutional investors choose ETF funds like iShares to increase their cryptocurrency allocation."
Tran Minh Tuan, cryptocurrency financial analyst, 2024
Frequently Asked Questions
1. What is a Bitcoin ETF and what role does it play?
Bitcoin ETF is an exchange-traded fund that allows investors to access Bitcoin without holding it directly. It enhances liquidity, safety, and reduces wallet management risk.
2. How does Ethereum ETF differ from Bitcoin ETF?
Ethereum ETF is similar to Bitcoin ETF but focuses on Ethereum Tokens, based on Ethereum's growth potential in Smart Contract applications and DeFi.
3. Why is the value of assets managed by iShares the largest?
iShares is known for its professional management quality, transparent legality, and reliability from global institutional investors, attracting significant capital inflows.
4. What impact does significant capital inflow into ETFs have on the cryptocurrency market?
Inflow into ETFs reflects the interest and trust of institutional investors, often helping to raise prices and reduce market volatility.
5. How to invest in cryptocurrency ETF funds?
Investors can open accounts on stock exchanges that support cryptocurrency ETFs or through licensed brokers.
Source: https://tintucbitcoin.com/bitcoin-va-ethereum-etf-hut-manh-von/
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