Ethereum

Bitcoin

Spot

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Spot bitcoin ETFs in the US have seen a seventh day of net inflows, with BlackRock’s iShares Bitcoin Trust leading.</li>
 <li>The spotlight in the crypto industry is shifting towards spot Ethereum ETFs following the SEC’s request for amendments.</li>
</ul>
<p>Spot bitcoin exchange-traded funds (ETFs) in the United States are enjoying a positive trend. They’ve witnessed net inflows for the seventh consecutive day.</p>
<p>Data from various sources reveals that these products attracted $305.72 million. The majority of these funds, specifically $290 million, were channeled into BlackRock’s iShares <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> Trust.</p>
<h2 id="performance-of-other-bitcoin-etfs">Performance of Other Bitcoin ETFs</h2>
<p>The Fidelity Wise Origin Bitcoin Fund was the only other ETF to record net inflows, drawing in $26 million. On the other hand, Grayscale’s converted Bitcoin Trust, which has experienced cumulative net outflows of $18 billion, didn’t record any flows.</p>
<p>No inflows or outflows were recorded from other spot bitcoin ETFs, except for the Bitwise Bitcoin ETF and VanEck Bitcoin Trust. They saw respective net outflows of $4 million and $6 million.</p>
<p>Since their introduction on US exchanges, spot bitcoin ETFs have been exceedingly popular, garnering a cumulative total net inflow of $13.17 billion. More than $265 billion in cumulative volume has been recorded.</p>
<h2 id="shift-towards-ethereum-etfs">Shift Towards Ethereum ETFs</h2>
<p>After the success of spot bitcoin ETFs, the focus in the cryptocurrency industry and broader financial markets is now shifting towards spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> ETFs. This comes after the U.S. Securities and Exchange Commission reportedly asked exchanges to amend their 19b-4s.</p>
<p>CboeBZX complied with the request, filing amended forms for the Franklin Ethereum Trust, Fidelity Ethereum Fund, VanEck Ethereum Trust, Invesco Galaxy Ethereum ETF, and the ARK 21Shares Ethereum ETF.</p>
<p>The requested amendments mainly pertained to the removal of ether staking and related language. This was based on Grayscale Investment’s removal of such language in its spot ether ETF proposal. Fidelity followed suit.</p>
<p>Although spot ether ETFs weren’t expected to gain approval in the immediate future, the odds changed significantly after the SEC made such requests. Many are suggesting a political shift is happening ahead of the U.S. elections in November.</p>

Surge in Spot Bitcoin ETFs Amidst Buzz Over Potential Ethereum ETF

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