Spot Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs are tipped to start the next phase of the bull cycle soon.
What Happened: Spot Bitcoin ETFs have reported a cumulative total net inflow of $14.65 billion as of July 1, with $129.5 million accumulated on July 1 alone. So far, the Grayscale Bitcoin Trust (OTC:GBTC) has recorded a cumulative net outflow of $18.5 billion, while the iShares Bitcoin Trust (NASDAQ:IBIT) has the cumulative net inflow at $17.7 billion.
Spot Ethereum ETFs could be approved for trading by mid-July, with Gemini Research estimating net inflows of up to $5 billion and total inflows between $13- $15 billion by the end of the year.
Also Read: Spot Ethereum ETFs Could Take In Up To $15B In 2024: Gemini Research
Why It Matters: ETF Store President Nate Geraci predicted that Spot Ethereum ETFs will be the second most successful debut in ETF history, only behind spot Bitcoin ETFs. Both ETFs will go down as the most successful launches in more than 30 years of ETF history, according to him.
Quinn Thompson stated that he expects the "largest asset managers embarking on an arms race" to position themselves as the top ETFs for Ethereum.
Crypto trader Jelle expects an uptrend upon trading launch:
$ETH ETF's are likely going live in about a week, and the chart looks like this. Looks like it's about time for a trip towards the highs of the range. Breakout from there, and even your wives will get a girlfriend. pic.twitter.com/6cq2ywEaVl
— Jelle (@CryptoJelleNL) July 1, 2024
What's Next: The influence of Ethereum as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。