Ethereum ETFs Vs. Bitcoin ETFs: Which Spot Funds Will Have The Better Trading Start?
The post Ethereum ETFs Vs. Bitcoin ETFs: Which Spot Funds Will Have The Better Trading Start? appeared on BitcoinEthereumNews.com.
A week after Bitcoin dropped to its lowest level since February, dip buyers returned in style. At press time, Bitcoin ETFs show the highest inflows in more than a month. Meanwhile, spot Ethereum ETFs are expected to begin trading by month’s end. Analysts suggest that with its refined features and tools that equip traders and investors to gain maximum profit trading spot ETFs, ETFSwap (ETFS) is the real opportunity to watch and even buy into. Ethereum ETFs Vs. Bitcoin ETFs Trading Performance According to JPMorgan data, spot Bitcoin ETFs dispalyed a significant surge in inflows during the week ending July 11th, taking in $882 Million, with an average of $175 Million coming in per day. Leading the charge were BlackRock and Fidelity’s Bitcoin ETFs products, which attracted $403 Million and $361 Million, respectively. In contrast, Grayscale’s Bitcoin ETFs continued in a downward trajectory, losing nearly $87 Million. As per the JPMorgan data, this performance marks the highest Bitcoin ETFs inflow period since the week ending May 23rd. This strong inflow reverses a three-week period where Bitcoin ETFs lost over $1.1 Billion, underscoring the renewed investor interest. Interestingly, this surge in Bitcoin ETFs inflows coincides with a dip in Bitcoin’s price, which fell below $54,000 on July 5th, reaching its lowest point since February. On the other hand, Spot Ethereum ETFs are expected to commence trading in the U.S. by July 23, following the SEC’s approval of filings from issuers earlier this year. Analysts project that once trading begins, spot Ethereum exchange-traded funds (ETFs) in the U.S. could see net inflows ranging from 30% to 35% of the levels observed in Bitcoin ETFs equivalent. However, according to Citi’s research report, the distribution of these inflows is expected to be skewed towards the downside. Based on this projection, the report estimates that…
Filed under: News - @ July 21, 2024 5:14 pm