Bitcoin
Ondo
NEAR Protocol
Walrus
Pearl
Pons
Ethereum
Key Insights:
- Bitcoin ETFs experienced $799M in daily net inflows, showing growing demand.
- Ethereum ETFs set a record with $727M in net inflows.
- Institutional interest in Ethereum continues to rise, signaling long-term confidence.
Bitcoin ETFs on July 16 saw a total net inflow of $799 million. It is the 10th day in a row with positive inflows. This shows institutional interest with Bitcoin-related investment products. As of press time, cumulative net inflows into Bitcoin ETFs were standing at $53.86 billion.
As indicated in the ETF products, the Bitcoin price has been moving upward, and the daily variations have been very active. Investors appear to be geared up to the future rise of Bitcoin, especially with the rising interest of Bitcoin as a hedge against inflation.
Ethereum ETFs Set Record with $727 Million in Inflows
Ethereum ETFs too demonstrated some spectacular returns, with a record net inflow of 727 million. That was the biggest inflow in a single day on Ethereum ETFs. This highlights that more institutions are gaining trust in the second-largest crypto by market cap. This was a notable milestone that took the total net Ethereum ETF inflows to $6.48 billion.
Once the Ethereum price reached above the already soaring value of over $3,300, Ethereum ETF saw a significant increase in inflows. The market performance posted by Ethereum indicated a rise in investors’ sentiment.
This was accompanied with a rise in the number of institutional investors interested in investing in Ethereum to add it to their portfolio. The ETHA ETF of BlackRock, which had the highest sum of net inflows of $499 million, contributed significantly to such a record. This fund has an asset of 7.73 billion dollars that covers 1.90% of the Ethereum market share.
Fidelity FETH Ethereum ETF and Grayscale ETHE Ethereum ETF also accounted for big flows of about 113.31 million and 33.04 million, respectively.
Bitcoin ETFs Losing Out to Ethereum as Demand Keeps Rising
The record-high inflows on Ethereum ETFs come when the price rapidly rises. As of press time, Ethereum had a price of $3,342, an increase of 7.4% over 24 hours.
The price rally has come after higher institutional demand for Ether, especially by large market participants such as BlackRock. Ethereum ETFs have, in the past, seen substantial net inflows with $2.27 billion in July alone, the highest monthly inflows since the funds were introduced.
Large corporate entities such as SharpLink Gaming, a publicly traded firm, also take up positions in Ethereum, as it outpaces Bitcoin. The company recently overtook Ethereum Foundation as the biggest owner of the cryptocurrency.
With increasing institutional investors investing in Ethereum, this asset is increasingly considered a treasury. Such an increasing institutional interest, coupled with a supply that is becoming constrained by staking, is helping Ethereum to have a bullish future.
Bitcoin and Ethereum ETFs Gaining Massive Popularity
The amount of money traded in Bitcoin and Ethereum spot ETFs has reached $5.09 billion. Data shows significant daily trading volumes, in particular Bitcoin and Ethereum ETFs.
On July 16, the trading volume of ETFs on Bitcoin was at $3.99 billion. The net assets of the ETFs was at $86.73 billion.
On the same note, Ethereum ETFs performed so well with a daily volume of $472.20 million, indicating a high intensity of market demand. These statistics highlight the increasing popularity of the two assets.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
