🔵According to Farside Investors, the net capital inflow into spot Bitcoin exchange-traded funds (ETFs) in the U.S. has exceeded $16 billion. The majority of the funds were invested in the iShares Bitcoin Trust (IBIT) by BlackRock.
🔵The capital inflow is especially noteworthy as it began simultaneously with the decline of Bitcoin in early July. This contrasts with some experts’ ideas, who suggested that interest in ETFs was “hot money” that would leave at the first signs of trouble.
🔵Issuers of potential spot Ethereum ETFs are preparing to submit their documents to the U.S. Securities and Exchange Commission (SEC). It is expected that the funds may appear on the market as early as Tuesday, July 23.