crypto for all
A
A

The Bitcoin ETFs are exploding and exceeding $13 billion in inflows!

Sat 01 Jun 2024 ▪ 3 min of reading ▪ by Eddy S.
Getting informed Event

Will the year 2024 mark the definitive advent of Bitcoin as a safe haven for investors? As we reach the end of May, it is clear that the queen of crypto has never been more sought after. The numbers speak for themselves: the famous net inflows into Bitcoin ETFs exposed to this future asset have set a new historical record with 13 consecutive days of massive subscriptions! A true buying frenzy that propels King Bitcoin a bit closer to widespread institutional adoption.

Bitcoin ETF

Bitcoin, Still the Star of Cryptocurrencies

Driven by this unprecedented wave of enthusiasm, Bitcoin continues to reign supreme over the kingdom of cryptocurrencies. According to data, net inflows into Bitcoin ETFs reached $48.706 million on May 30, bringing total historical inflows to $13.809 billion. An astronomical figure that attests to the solidity of this investment among institutional and individual investors.

Among the leading ETFs, BlackRock’s iShares Bitcoin Trust has recently dethroned the Grayscale Bitcoin Trust (GBTC) by becoming the world’s largest Bitcoin fund with nearly $20 billion in assets under management. Furthermore, despite initial concerns, withdrawals from the Grayscale fund have been relatively moderate at $17.7 billion since its conversion to an ETF.

Ethereum, the New Eldorado of ETFs?

Bitcoin is no longer the only one benefiting from this ETF craze. Indeed, the U.S. regulator has given the green light to 19 ETF Ethereum applications. A major advancement that could well restart the frantic race towards alternative cryptos in the very short term.

Among the lucky ones are heavyweights such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, and many others. However, most issuers had to give up Ether staking to obtain the precious regulatory sesame. A significant sacrifice for these funds but a necessary evil to expand their audience to the most cautious institutional investors.

There is no longer any doubt, Bitcoin and Ethereum ETFs represent the new norm of crypto investment in 2024. Signaling a widespread institutional adoption of these two giants, this new generation of funds propels this asset class further into the financial spotlight. An overwhelming enthusiasm that continues to swell week by week, almost reaching euphoria in the derivative markets of the main cryptos.

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.


Click here to join 'Read to Earn' and turn your passion for crypto into rewards!
A
A
Eddy S. avatar
Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.