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The recent approval of spot Bitcoin and Ethereum ETFs by the SEC has significantly impacted the cryptocurrency market. Bitcoin ETFs have seen substantial inflows, with approximately 30,000 Bitcoin purchased in May and a total of 237,000 Bitcoin since their launch four months ago. Ethereum ETFs have also driven significant activity, with over $3 billion worth of Ethereum withdrawn from exchanges since the approval on May 23, reducing exchange balances to their lowest levels in years. The Wisconsin Pension Fund has notably invested $160 million in Bitcoin ETFs, highlighting growing institutional interest. This trend is further evidenced by the involvement of 85 hedge funds, 405 registered investment advisors, and other institutional investors.
📊 Digital asset investment products saw inflows for the 4th consecutive week, totaling $185M. $ETH had a 2nd week of inflows post-SEC approval of a spot-based ETF, reversing a 10-week $200M outflow trend. $SOL also gained with a $5.8M inflow. May saw $2B inflows. https://t.co/AzcrhYeAtr
One of the best-run state pension funds in the U.S. has allocated to Bitcoin. What will happen when all these underfunded pensions facing ongoing financial pressures discover it? https://t.co/yrl994hj7y
Ethereum ETFs are expected to start trading by the end of June. FYI, the US Bitcoin ETFs took Bitcoin from $46K to $73K in just 64 days. Imagine what would happen to $ETH when billions of $$$ will be flowing into ETH ETFs. Are you prepared?