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Wall Street Bets Big — $3.6B Pours Into Bitcoin, Ethereum ETFs Weekly
In a remarkable display of market confidence, a staggering $3.6 billion has been poured into Bitcoin and Ethereum ETFs over the past week alone. The data, as reported by FarSide, shows that the demand for cryptocurrency on Wall Street is more than evident, with both Bitcoin and Ethereum ETFs recording impressive inflows.
Bitcoin ETFs, in particular, have seen an influx of capital, with a staggering $2.7175 billion in net inflows throughout the week. This marks a significant increase from previous weeks, highlighting the growing interest in Bitcoin as an investment opportunity.
It is no surprise that BlackRock’s IBIT has continued to dominate the landscape, attracting over $1,175.6 billion and $953.5 million on Thursday and Friday, respectively. The impressive performance of the fund can be attributed to its popularity among investors seeking exposure to Bitcoin.
On the other hand, Ethereum ETFs have also witnessed a surge in demand, with an unprecedented $908.1 million flowing into these financial instruments over the past seven days. BlackRock’s ETHA has led the charge, attracting over $300 million and $137.1 million on Thursday and Friday, respectively.
The remarkable inflows into both Bitcoin and Ethereum ETFs have had a direct impact on their prices. The value of Bitcoin has skyrocketed to a multi-month high of nearly $119,000, while Ethereum’s price surged to a new record, with its value increasing by over 17% on a weekly basis.
These figures further solidify the notion that institutional investors are increasingly embracing cryptocurrency as a viable investment option.
Source: cryptopotato.com
