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BlackRock’s Bitcoin and Ethereum ETFs Experience Unprecedented Growth
In a shocking turn of events, BlackRock has made waves in the cryptocurrency market by announcing a massive spike in investments into its Bitcoin (BTC) and Ethereum (ETH) ETFs. This unprecedented growth has left many analysts stunned, as it is now clear that the giant financial institution is not just dipping its toes into the crypto market but fully embracing it.
According to sources close to the matter, BlackRock’s Bitcoin ETH ETF alone has seen over $3 billion in net inflows since its July launch. This figure surpasses all other similar products on the market, solidifying the company’s position as a dominant player in the space.
What is perhaps even more astonishing is that this growth has come despite Grayscale Ethereum Trust experiencing net outflows of $3.5 billion. This trend may have implications for the price appreciation of ETH in the near future.
It remains to be seen how long BlackRock will continue its impressive performance, but one thing is clear: the company’s entry into the market has sent shockwaves throughout the crypto community.
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Source: u.today
