Bitcoin and Ethereum continue to dominate the cryptocurrency market, with Bitcoin witnessing a surge in institutional interest and Ethereum gaining momentum through ETF approvals. Bitcoin's net inflows into ETFs hit $48.706 million on May 30, totaling $13.809 billion historically. BlackRock's iShares Bitcoin Trust outpaced Grayscale Bitcoin Trust to become the largest Bitcoin fund with assets nearing $20 billion.
On the other hand, Ethereum has also attracted attention as the U.S. regulator approved 19 Ethereum ETF applications. Despite challenges like forgoing Ether staking, major players such as VanEck and BlackRock seized the opportunity, signaling a shift towards broader adoption among institutional investors.
The rise of Bitcoin and Ethereum ETFs marks a significant development in crypto investments for 2024, showcasing the growing institutional confidence in these digital assets. This trend highlights a shift towards a more mature and regulated cryptocurrency market, with derivative markets showing signs of euphoria.
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