After their breathtaking record-shattering debut earlier this year, Bitcoin ETFs are showing strong staying power
These products are currently on a 15-day inflow streak, performing on par with some of the top ETFs. Elon Musk Shares "Hodl" Warren Buffett Tweet, Crypto Community Goes WildAccording to ETF analyst Nate Geraci, the iShares Bitcoin Trust has now surpassed $20 billion in assets under management. It managed to reach the aforementioned mark in less than five months, which is the current record.
On Monday, spot Bitcoin ETFs attracted $105 million worth of inflows. Fidelity's product was in the lead with $77 million."Relentless. Thoughts and prayers for the anti-crypto crowd. This has to hurt," Balchunas said while commenting on the recent streak of inflows.The analyst recently noted that Fidelity's Bitcoin ETF accounts for a staggering 56% of the total flows recorded by the Boston-based financial giant.
Even Hong Kong-based spot Bitcoin ETFs are seeing some love from investors, recording $31.73 million worth of inflows on Monday. It is their best day to date. These ETFs started severely underperforming shortly after their much-hyped debut. It remains to be seen whether the current streak of inflows will make it possible for Bitcoin to reclaim the $70,000 mark.
Meanwhile, analysts are discussing upcoming spot Ethereum ETFs that are yet to start trading in the U.S. However, JPMorgan expects these ETFs to attract Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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