$BTC $ETH
Look at this data, it's so attractive!
Bitcoin and Ethereum ETFs have seen a great net inflow this week!
Institutional holdings are surging!
This week, Bitcoin spot ETFs have seen a huge net inflow of $1.79 billion, equivalent to a strong entry of 21,537.61 BTC! Ethereum spot ETFs are not to be outdone, with a net inflow of $533.9 million, allowing 163,832.72 ETH to find a new home!
Lin Chen, Asia Pacific Business Leader at Deribit, in-depth analysis: Bitcoin ETFs were slightly sluggish on Thursday and Friday, with a slight net outflow, but the other three days were full of firepower, with a net inflow of tides! BlackRock once again showed its kingly style of increasing holdings, spending 23,582.56 BTC in a single week, accounting for as much as 74%!
Fidelity was slightly conservative, increasing its holdings by only 229, while Grayscale unexpectedly outflowed 926.94 BTC. As the market's FOMO sentiment fades and purchasing power declines, the price of Bitcoin hovers around the $90,000 mark, looking for a new direction.
In terms of Ethereum ETF, the trend is parallel to Bitcoin, but Grayscale ETHE has become a "rebellious teenager", with a net outflow of 31,595.22 ETH! BlackRock still sits firmly in the top spot of increasing holdings, increasing its holdings by 93,644.41 ETH this week, while other institutions are running in small steps and have net inflows.
📉 The ETH/BTC exchange rate fell to 0.0342, refreshing the recent low. The market is changing, and a new round of competition has quietly begun!
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