United

Bitcoin ETF

Bitcoin

Million

<ul class="list-ic vertical">
 <li>1 <a>Overall, crypto investment products saw significant growth, with a general influx of $103 Million weekly.</a></li>
 <li>2 <a>Among the highest inflows, Bitcoin received $87.6 Million, followed by Ethereum with $7.9 Million.</a></li>
 <li>3 <a>Bitcoin’s value did not increase significantly on December 25; after a spike, it fell from $43k to $42 as of writing.&nbsp;</a></li>
</ul>
As per a recent study of CoinShares, overall crypto investment products saw significant growth, with a general inflow of $103 Million in the week ending December 22, 2023, opposing the outflow of $16 Million the previous week.&nbsp;
The significant boost in investment is seen following the stir in the market because spot ETFs and the entry of BlackRock dragged investors’ interest toward the upcoming future of currency.&nbsp;
Among the highest inflows, Bitcoin received $87.6 Million, followed by Ethereum with $7.9 Million, and the remaining is distributed among all other coins and tokens. In terms of countries, Germany holds 40% of the total inflow, followed by Canada and others.&nbsp;&nbsp;
Every <a href="https://www.thecoinrepublic.com/2023/12/26/gmt-coin-the-heroic-entry-of-bulls-strengthened-the-support/" target="_blank" rel="noopener noreferrer nofollow">crypto enthusiast</a> is eyeing the upcoming decision of the U.S. SEC on spot ETFs. Analysts believe that if the regulatory board approves ETFs, this move might shape the future of cryptocurrencies. Solana-related products have garnered the most significant inflows in 2022, trailing only Bitcoin, with $162 Million in year-to-date flows.
Meanwhile, some investors remain negative on BTC, as seen by $400,000 inflows&nbsp;
into Short Bitcoin instruments last week.
The digital asset’s value has increased by more than 800% year to date, making it one of the market’s best-performing large-cap alternative cryptocurrencies.
On the other hand, Bitcoin remains the leader, with all eyes on the cryptocurrency ahead of the likely approval of a spot in the Bitcoin ETF in the United States.
While a spot Bitcoin ETF has never been approved in the United States, such a product is far from novel worldwide. Investors in other jurisdictions, including Canada, Australia, and Germany, may already purchase shares in spot Bitcoin ETFs.
<h2 class="wp-block-heading" id="strong-etfs-application-strong">ETFs Application</h2>
Bitcoin’s value did not increase significantly on December 25. After a spike, it fell from the $43k mark to $42 as of writing. Ethereum, the market’s second leader, has also gained dramatically in the last three months, trading at $2,237.43 at the time of writing.
While the U.S. Securities and Exchange Commission has emphasized in-cash redemption for Spot Bitcoin ETFs, the SFC has said that in-kind and in-cash subscription and redemption are permitted.
A new wave of applications, driven by asset management giant BlackRock Inc., has sparked hopes that the Securities and Exchange Commission would finally approve after over a decade of denials, fueling a 20% Bitcoin rise since mid-June.
Spot ETFs are expected to give a boost to the crypto industry, and most tokens have crossed several unprecedented milestones. Bitcoin sailed past the $44k mark; its highest trading price is the highest in the year to date period.
<h4 class="wp-block-heading">Disclaimer</h4>
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;

Inflow of Funds Increase This Week Following ETF Applications

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Thecoinrepublic.com

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