Spot bitcoin and ethereum exchange-traded funds have seen unprecedented appetite from institutional investors this year, and the numbers continue to impress, especially in December.
A record-breaking $3.85 billion flowed into digital asset funds last week, fueled by insatiable demand on Wall Street, CoinShares reported on Monday.
BlackRock's iShares ETFs accounted for $3.2 billion of these inflows, taking the total value of crypto assets under management to $56.7 billion.
Inflows into Ethereum products hit a new all-time high of $1.2 billion last week, surpassing the levels seen when the Securities and Exchange Commission first approved the U.S. spot ETF ETF in July, CoinShares reported.
The US has now established itself as the leading market for digital asset investment products, with total revenue of $3.6 billion.
Switzerland ranks second with $160 million – followed by Germany, Canada and Australia.
All this comes amid speculation that ETFs are tracking the value of smaller cryptos XRP Or SolanaDonald Trump may give the green light to start after he returns to the Oval Office in January.
Last week, it was confirmed that Wall Street ETF issuers now own more bitcoins than anyone else. Including a crypto pseudonym creatorSatoshi Nakamoto.
The total market capitalization of Bitcoin ETFs is now $109 billion. CoinGlass data shows-More than MicroStrategy and Binance combined. MicroStrategy is Bitcoin's largest corporate treasury, and Binance is the world's largest cryptocurrency by trading volume.
However, analysis from CryptoQuant indicates that all this buying activity has been offset by the selling of long-term Bitcoin holders, who unloaded 827,783 BTC in the past 30 days.
That explains why Bitcoin has struggled to maintain momentum above $100,000 after hitting a critical price for the first time last week. As of this writing, the price of Bitcoin is close to $97,000 after falling below the six-figure mark on Monday.
BTC's growth, which eventually led to a market cap of more than $2 trillion and made it worth more than the Australian dollar, was attributed to institutional demand through ETFs rather than everyday investors.
Trump's return to the White House, fueled by many pro-Bitcoin hopes, is playing a role. Now he has appointed “Crito Czar” as an entrepreneur David Sachswith Paul Atkins He was elected to lead the SEC. Industry insiders see Atkins as a crypto-friendly candidate slated to end the antitrust regime imposed under current SEC Chairman Gary Gensler.
said Chris Skinner, an independent financial analyst who runs the Finanser blog. Decrypt The president-elect has “made cryptocurrencies respectable.”
“The result is that ETFs will flourish in the next four years, as will the entire cryptocurrency sector,” he wrote in an email. “This is not a Bitcoin game, but a game on the institutionalization of cryptocurrency, which the libertarians never wanted but was inevitable.”
Edited by Sebastian Sinclair
Daily Debrief Newspaper
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