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Bitcoin and Ethereum ETFs Drive Mainstream Adoption and Volume
2024-07-23 23:55:08
Blockchain
Stocks
Markets

Bitcoin and Ethereum ETFs Drive Mainstream Adoption and Volume

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Bitcoin and Ethereum ETFs are garnering significant attention and driving mainstream adoption in the cryptocurrency market. Bitwise CIO Matt Hougan predicts that Bitcoin could reach $100K with the influx of $15B in Bitcoin and Ethereum ETFs, attracting major banks like Morgan Stanley and Wells Fargo.

Meanwhile, Ethereum ETFs have surpassed $1 billion in trading volumes on their first day, with Wall Street issuers like BlackRock and Fidelity leading the way. The launch of these ETFs follows the success of Bitcoin ETFs, which saw $1 billion in inflows in just three days.

While volatility and regulatory hurdles exist, experts remain confident in the long-term growth of both Bitcoin and Ethereum. Additionally, there is potential for Ethereum ETFs to incorporate staking in the future, according to SEC Commissioner Hester Peirce.

Overall, the introduction of these ETFs is contributing to increased market volume and expanding opportunities for retail investors.

Related news on that topic:

The Impact of Ethereum ETFs on the Crypto Market

The approval and launch of Ethereum ETFs by the SEC has generated significant anticipation and predictions of billions in inflows. Analysts believe that these ETFs will not compete with Bitcoin ETFs but may actually accelerate their growth. Key players such as Grayscale, BlackRock, and Fidelity are involved in the launch. Trading volumes in the first few weeks will be closely watched to gauge real demand. While Ethereum has risen above $3,500 ahead of the ETF trading, there are concerns about the potential downward pressure from Grayscale's large ETH Trust. Analysts estimate that Ethereum ETFs may attract a significant portion of the inflows seen by Bitcoin ETFs. The launch of these ETFs is expected to bring in substantial capital, enhancing Ethereum's liquidity. However, factors such as the inflation rate and supply increase of ETH could impact the performance of the ETFs. Overall, there is mixed prediction on Ethereum's price, but experts expect substantial inflows within the first six months of trading in the US.

Spot Bitcoin ETFs Attract $1 Billion in Just Three Days

Spot Bitcoin ETFs have seen a significant influx of $1 billion in just three days. BlackRock and Fidelity ETFs led the inflows, while Mt. Gox distributed cryptocurrency to its victims. The German government also sold Bitcoin, impacting prices. J.D. Vance, Trump's pick, is pro-crypto and has criticized SEC Chair Gensler. Despite recent dips, the price of Bitcoin has recovered by 23% since its low on July 5th. July 16th saw a 6-week high with a $420 million inflow. Additionally, BlackRock's Nasdaq IBIT ETF drew $526.7 million on Monday, the highest since March. Bitwise CIO, Matt Hougan, predicts Bitcoin could reach $100,000 driven by inflows to Bitcoin and Ethereum ETFs. The launch of spot Ethereum ETFs from BlackRock, Franklin Templeton, and VanEck is expected to bring in an estimated $15 billion in inflows. Overall, ETFs and sovereign wealth funds may play a significant role in driving Bitcoin's climb.

Read 4 more recent news on this topic

The press radar on this topic:

The Street
23. Juli 2024 um 20:26

Why Ethereum and Bitcoin ETFs can carry Bitcoin to $100K: Bitwise CIO

Cryptocurrencies & blockchain
Finance
Bitwise CIO Matt Hougan expects $100K Bitcoin driven by $15B in Bitcoin and Ethereum ETF inflows, with $3-5B more for Ethereum ETFs. He predicts 1-5% Bitcoin exposure in ETF portfolios within 3 years, attracting Morgan Stanley and Wells Fargo. Volatility may arise from Grayscale Ethereum Trust, but Hougan is confident in long-term growth. Goldman Sachs plans tokenization projects, and major banks received permission around the SEC accounting rule despite President Biden's veto.
The Street
25. Juli 2024 um 15:27

Spot ether ETFs to begin trading next week, report says

Finance
Cryptocurrencies & blockchain
Spot ether ETFs launching next week from BlackRock, Franklin Templeton, VanEck; $15 billion in estimated inflows; ethereum price jumps 6%; ethereum network, stablecoin growth, fewer regulatory hurdles to propel price; 21Shares, Grayscale, Fidelity, Bitwise, Invesco also vying for spot ether ETF; staking to benefit investors and network; mature market structure, bitcoin and ethereum ETFs key drivers; Nathan McCauley, CEO of Anchorage Digital, says approval is first step, staking next.
The Street
29. Juli 2024 um 14:45

Bitcoin ETFs drive mainstream adoption despite regulatory hurdles

Cryptocurrencies & blockchain
Finance
Economy
Technology
Bitcoin's mainstream adoption faces volatility concerns for companies' balance sheets, but crypto expert Levin highlights rise of bitcoin ETFs for retail exposure. Bitcoin Bros' Williams advises dollar-cost averaging to manage volatility, citing MicroStrategy's investment and strategy's 10-year success. Levin explains SEC's missions, noting bitcoin's money service classification poses challenges. Williams likens investing to traditional principles of consistent, small contributions, advising i..
The Street
30. Juli 2024 um 20:45

Ethereum ETFs Potentially Able To Stake In The Future: SEC's Peirce

Cryptocurrencies & blockchain
Finance
SEC Commissioner Hester Peirce suggests Ethereum ETFs from VanEck, Fidelity and others could later allow staking Ethereum, which pays ~4% APY and secures the proof-of-stake blockchain, though SEC Chair Gensler views staking as an investment contract. Ethereum ETF issuers had originally sought to enable staking but removed it ahead of SEC approval in May. Peirce says staking features could be reconsidered, though her views may not reflect the full Commission. Fundstrat predicts Ethereum ETFs co..
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