Spot Bitcoin and Ethereum Exchange-Traded Funds Witness Unprecedented Appetite from Institutional Investors
A Record-Breaking $3.85 Billion Flows into Digital Asset Funds
Spot Bitcoin and Ethereum exchange-traded funds (ETFs) have witnessed an unprecedented appetite from institutional investors this year, with the numbers, particularly in December, continuing to impress. According to a CoinShares report, a record-breaking $3.85 billion flowed into digital asset funds last week, fueled by Wall Street’s insatiable demand.
BlackRock’s iShares ETFs Account for $3.2 Billion of Those Inflows
BlackRock’s iShares ETFs accounted for $3.2 billion of those inflows, taking its total value of crypto assets under management to $56.7 billion. Inflows into Ethereum products also hit a fresh all-time high of $1.2 billion last week, surpassing volumes seen when the Securities and Exchange Commission first approved U.S. spot ETH ETFs in July.
The U.S. Has Cemented Itself as the Primary Market for Digital Asset Investment Products
The U.S. has now cemented itself as the primary market for digital asset investment products, representing $3.6 billion in total inflows. Switzerland was in distant second place at $160 million, followed by Germany, Canada, and Australia.
Speculation on Launch of ETFs Tracking Smaller Cryptos
All of this comes amid speculation that ETFs tracking the value of smaller cryptos, such as XRP or Solana, could be given the green light to launch after Donald Trump returns to the Oval Office in January.
Wall Street ETF Issuers Now Own More Bitcoin Than Anyone Else
Last week, it was confirmed that Wall Street ETF issuers now collectively own more Bitcoin than anyone else, including the crypto’s pseudonymous creator, Satoshi Nakamoto.
The Total Market Cap of Bitcoin ETFs is Now $109 Billion
The total market cap of Bitcoin ETFs is now $109 billion, according to CoinGlass data – more than MicroStrategy and Binance combined. MicroStrategy is the largest corporate treasury holder of Bitcoin, while Binance is the world’s top cryptocurrency exchange by trading volume.
Analysis Suggests Selloffs by Long-Term Bitcoin Holders
However, analysis from CryptoQuant suggests that all of this buying activity has been outgunned by selloffs by long-term Bitcoin holders, who have offloaded 827,783 BTC over the past 30 days.
Conclusion
In conclusion, the unprecedented appetite for spot Bitcoin and Ethereum ETFs from institutional investors continues to impress, with the U.S. cementing its position as the primary market for digital asset investment products. The speculation surrounding the launch of ETFs tracking smaller cryptos adds to the excitement, and the confirmation that Wall Street ETF issuers now own more Bitcoin than anyone else highlights the growing institutional interest in the crypto market.
FAQs
Q: What is the total market cap of Bitcoin ETFs?
A: The total market cap of Bitcoin ETFs is now $109 billion, according to CoinGlass data.
Q: Who is the largest corporate treasury holder of Bitcoin?
A: MicroStrategy is the largest corporate treasury holder of Bitcoin.
Q: What is the world’s top cryptocurrency exchange by trading volume?
A: Binance is the world’s top cryptocurrency exchange by trading volume.
Q: How much Bitcoin has been offloaded by long-term holders over the past 30 days?
A: According to CryptoQuant, long-term Bitcoin holders have offloaded 827,783 BTC over the past 30 days.
Q: What is the speculation surrounding the launch of ETFs tracking smaller cryptos?
A: There is speculation that ETFs tracking the value of smaller cryptos, such as XRP or Solana, could be given the green light to launch after Donald Trump returns to the Oval Office in January.
