Wall Street Leads the ETF Craze
A report from CoinShares on December 11 indicates that exchange-traded funds (ETFs) $BTC and $ETH attracted 3.85 billion USD just last week, marking a new record. Strong demand from institutional investors, particularly in the US, is the main driver of this growth.
Among them, BlackRock’s iShares ETFs contributed 3.2 billion USD, raising their total cryptocurrency assets under management to 56.7 billion USD. At the same time, Ethereum-related funds also recorded 1.2 billion USD, the highest ever since the US approved the Ethereum spot ETF in July.
US Holds the Upper Hand
The US market currently accounts for the majority of investments in digital asset products, with 3.6 billion USD, far ahead of Switzerland, the second-ranked country with 160 million USD. Other major markets like Germany, Canada, and Australia follow in the rankings.
Bitcoin ETFs Dominate Globally
The total market capitalization of Bitcoin ETFs currently stands at 109 billion USD, surpassing both #microstrategy and #Binance combined. However, the Bitcoin market has recently been affected by the sell-off of over 827,783 BTC from long-term investors in the past 30 days. This may explain why the Bitcoin price has not maintained a level above 100,000 USD, currently trading around 97,000 USD.
Bright Future for Crypto
Experts suggest that the explosion of ETFs is not only a sign of Bitcoin's growth but also reflects the institutionalization of the crypto market. With supportive moves towards cryptocurrencies from elected President Donald Trump, the market is expected to continue to thrive over the next four years.
📌 Conclusion: Bitcoin and Ethereum ETFs are creating a significant wave in the market, paving the way for sustainable growth of cryptocurrencies in the future.