Recent developments in the cryptocurrency market indicate a substantial increase in the trading volume of Bitcoin and Ethereum through ETFs, reaching $11.5 billion, nearly equal to the trading volume of Apple stocks.
Growing Institutional Interest and Official Statements
Institutional interest in Ethereum appears to be rapidly increasing. NEOS has filed for a new 'high-yield' ETF, highlighting a shift towards Ethereum. Despite this surge, Bitcoin still leads in trading volume and institutional participation.
Increased Investment in Ethereum and New Registrations
Recent studies suggest that corporate treasuries may be a better investment vehicle than crypto ETFs. Nevertheless, interest and investments in Ethereum ETFs have continued unabated. In July, Ethereum ETFs briefly surpassed Bitcoin product entries, paving the way for large-scale institutional investments.
Bitcoin’s Market Dominance Persists
Although Ethereum ETFs have recently taken the spotlight, Bitcoin ETFs continue to dominate in trading volume. BlackRock’s IBIT product is ranked as the 20th largest ETF in the U.S. Bitcoin ETFs have been supported by strong institutional investments for nearly a year.
In summary, Bitcoin and Ethereum ETFs have been heavily favored by investors recently. While Ethereum stands out with rapid growth, Bitcoin remains the top choice for investors.
