The cryptomarkt has been on the rise in recent days. Not only do the rates of Bitcoin (BTC) and Ethereum (ETH) rise sharply, also on the American spot Exchange-Traded Funds (ETFS) market, optimism is clearly felt. Both Bitcoin and Ethereum funds again saw significant inflow of capital on Thursday.
Millions of dollars to BTC and ETH ETFs
On Thursday, no less than $ 627.2 million flowed to Bitcoin ETFs and $ 307.1 million to ETFs, according to data from Farside. This keeps the spot funds extremely popular among investors.
The biggest contribution came again from BlackRock. It ishares Bitcoin Trust recorded an influx of $ 466.5 million. Even at Ethereum it was the Wall Street giant that set the tone, with $ 177.1 million in inflow into the Ishares Ethereum Trust.
Over the past week, the total net inflow for Bitcoin ETFs is $ 2.25 billion. For Ethereum, the counter is currently at $ 1.06 billion.
Bitcoin course close to all-time high
The BTC course visibly benefits from the favorable sentiment. In the past seven days, the price has risen by 9.4 percent, with which Bitcoin is currently acting around $ 120,000. The all-time high of nearly 124,500 dollars, achieved in August, comes nastyly close.
Ethereum also shows a strong week. The ETH rate rose by 13.6 percent in the same period. The record high of almost $ 4,950 is also in sight.
Spot ETFs for Altcoins are getting closer
While the current crypto-etf’s show strong results again, it remains to be seen for approval for altcoins that do not yet have their own spot fund. The decision of the Securities and Exchange Commission (SEC) to withdraw all current 19B-4 applications for Altcoin ETFs-including those for Ripple (XRP), Cardano (ADA) and Solana (SOLA)-causes a lot of confusion.
Yet that is not bad news. The SEC has introduced new standard rules that should simplify the application process. Previously, providers had to submit a separate 19B-4 form for each new fund, with a long-term legal review period of up to 240 days. That changes under the new rules. If an ETF meets standard criteria, the fund can be noted immediately, without long waiting times.
Many cryptobeleggers still count on the arrival of new crypto ETFs this year. According to expert James Seyffart, the chance that in 2025 spot funds for XRP and Litecoin (LTC) are approved, among others, no less than 95 percent.
Many cryptobeleggers still count on the arrival of new crypto ETFs this year. According to expert James Seyffart, the chance that in 2025 spot funds for XRP and Litecoin (LTC) are approved, among others, no less than 95 percent.
Source: https://newsbit.nl/etfs-overspoeld-met-kapitaal-bijna-1-miljard-naar-bitcoin-en-ethereum/
