Bitcoin and Ethereum ETFs are experiencing a sharp rise in activity, attracting significant institutional investments. This is linked to the strengthening market position of these digital assets.

Sharp Increase in Bitcoin ETFs

As of October 15, 2024, Bitcoin ETFs recorded a net inflow of 7,494 BTC, roughly equivalent to $490 million. Fidelity stands out with an acquisition of about 3,627 BTC or approximately $237 million, raising its assets to 183,695 BTC, which is valued at $12.02 billion.

Ethereum ETF Uptick

Ethereum ETFs also demonstrate growth, noting an inflow of 2,485 ETH, valued at $6.38 million. Leading this surge, iShares Ethereum Trust added 5,453 ETH worth $14.01 million, bringing its total holdings to 419,621 ETH.

Institutional Interest and Market Outlook

Regulatory clarity and the growing recognition of Bitcoin and Ethereum as investment vehicles are driving institutional interest, reflected in the strong ETF activity. The current technical picture for Bitcoin suggests potential further price growth if it can hold above $67,000.

The increase in institutional investments through ETFs emphasizes a growing confidence in Bitcoin and Ethereum as valuable assets, which may contribute to further strengthening their market position.