Recent data shows that inflows into Bitcoin and Ethereum ETFs have significantly increased, leading to rising prices in the cryptocurrency market.
Inflows into Bitcoin ETFs
On Monday, Bitcoin ETFs reported an inflow of $219 million, according to Soso Value data. The highest amount came from Fidelity's ETF, which raised $65.56 million, followed closely by BlackRock's ETF with $63.38 million.
Ethereum ETFs Attract Large Investments
Ethereum ETFs showed even more significant results, garnering $443.91 million, almost double that of Bitcoin. BlackRock's ETHA emerged as the leading performer, attracting $314.89 million.
Impact of ETFs on Cryptocurrency Prices
The influx of funds immediately impacted cryptocurrency prices, with Bitcoin rising sharply to $110,277 and Ethereum reaching $4,423. These price fluctuations highlight the influence of institutional investors on the cryptocurrency market.
The increase in institutional investments in Bitcoin and Ethereum ETFs creates positive growth expectations in the crypto market and emphasizes the importance of these financial instruments for cryptocurrency prices.
