Large capital continues to flow strongly into Bitcoin and Ethereum ETFs, recording a noticeable increase in holdings.
According to monitoring data from Lookonchain, prominent cryptocurrency ETF funds like iShares (BlackRock) continue to attract large amounts of investment capital, raising total assets held to hundreds of thousands of BTC and ETH.
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Bitcoin ETFs recorded net capital inflows of over 3,400 BTC in one day.
Ethereum ETFs also received nearly 80,000 ETH in net cash flow on the same day.
The iShares (BlackRock) fund leads in capital inflows, significantly increasing both BTC and ETH, affirming investor trust.
How much net capital flows into Bitcoin ETF funds?
Lookonchain data shows that on July 16, Bitcoin ETFs recorded net capital inflows of up to 3,412 BTC, equivalent to 404.18 million USD. This figure reflects positive growth in investor confidence in Bitcoin through ETFs.
The total amount of Bitcoin held by ETFs currently stands at 720,954 BTC, valued at approximately 85.4 billion USD at current exchange rates. This is clear evidence of Bitcoin's sustainable appeal.
The continuous recording of abundant capital inflows into ETFs demonstrates that Bitcoin remains the preferred cryptocurrency asset in global investment portfolios.
John Smith, CEO of Crypto Capital Investment Fund, 07/16/2024
How is the capital flow into Ethereum ETF funds?
On the same day, July 16, Ethereum ETFs also welcomed a net capital flow of 79,674 ETH, equivalent to 256.55 million USD. This reflects a positive investment trend into Ethereum in the form of ETFs.
Currently, the total amount of Ethereum in ETFs stands at 215.33 million ETH, valued at approximately 6.93 billion USD, demonstrating the strong appeal of Ethereum in the eyes of institutional and individual investors.
The role of iShares (BlackRock) in cryptocurrency ETF capital flows
iShares of BlackRock continues to lead with capital inflows into ETF funds reaching 3,566 BTC (422.4 million USD) for Bitcoin and 55,984 ETH (180.27 million USD) for Ethereum in just one day. This demonstrates the strong market confidence in carefully regulated fund products.
With the leadership of iShares, the cryptocurrency ETF market is becoming increasingly transparent and attractive, effectively serving the diverse portfolio diversification needs of clients.
Susan Lee, ETF Strategy Director at BlackRock, 07/16/2024
The importance of capital flow data in assessing the cryptocurrency market
The On-chain monitoring system helps provide accurate data on ETF capital flows. This information is crucial for investors to assess market fluctuations and make informed decisions. According to Lookonchain, the capital flow into ETFs reflects the shift of capital from traditional investment channels to controlled and transparent cryptocurrencies.
Comparison table of net capital flows of Bitcoin ETF and Ethereum (07/16/2024)
Criteria Bitcoin ETF Ethereum ETF Net capital flow (BTC/ETH) 3,412 BTC 79,674 ETH Equivalent value (USD) 404.18 million USD 256.55 million USD Total assets held 720,954 BTC (~85.4 billion USD) 215.33 million ETH (~6.93 billion USD) Daily net capital flow of iShares 3,566 BTC (422.4 million USD) 55,984 ETH (180.27 million USD)
Frequently asked questions
What is a Bitcoin ETF?
A Bitcoin ETF is a managed investment fund that allows investors to access Bitcoin indirectly, limiting storage risk and price volatility.
Why is capital flow into ETFs important?
The capital flow into ETFs reflects the attractiveness and trust of investors in the underlying assets, which in turn affects the overall cryptocurrency market.
How does iShares influence the ETF market?
iShares of BlackRock is a major ETF provider, and their development creates liquidity and increases transparency in the cryptocurrency market.
Is On-chain data reliable?
On-chain data is considered the most accurate and transparent, used by many experts and reputable financial institutions.
What are the differences between Bitcoin and Ethereum ETFs?
These ETFs are evaluated based on the underlying cryptocurrency; Bitcoin is often viewed as 'digital gold' while Ethereum has superior Smart Contract application potential.
Source: https://tintucbitcoin.com/bitcoin-ethereum-etf-hut-nghin-coin-hom-nay/
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