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Bitcoin and Ethereum ETFs Add Billions Amid Record Week: CoinShares

Author: Content Editor
According to a CoinShares report, a record-breaking $3.85 billion flowed into digital asset funds last week, primarily driven by Wall Street's demand. BlackRock's iShares ETFs accounted for $3.2 billion of these inflows, bringing their total crypto assets under management to $56.7 billion. Inflows into Ethereum products also reached an all-time high of $1.2 billion. The US has solidified itself as the leading market for digital asset investment products, followed by Switzerland, Germany, Canada, and Australia. Speculation has arisen about the potential approval of ETFs tracking smaller cryptocurrencies after Donald Trump's potential return to office. Wall Street ETF issuers now collectively own more Bitcoin than anyone else, including Satoshi Nakamoto. Despite this, long-term Bitcoin holders have been selling off their holdings, leading to a struggle for Bitcoin to maintain momentum above $100,000. The growth of Bitcoin has been attributed to institutional interest through ETFs rather than retail investors. Trump's return and his pro-Bitcoin promises, along with the appointment of a "crypto czar" and a potential shift in the SEC's stance, are expected to further drive the growth of ETFs and the cryptocurrency sector as a whole.

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