Crypto ETF spots have seen a strong Wednesday flow because ETH (ETH) and BTC (BTC) attract capital: JPMorgan
The US found listed in the Crypto Exchange-Traded Funds (ETFS) spot (ETFS) the strong net inflows Wednesday, with the same ether
And Bitcoin products that continue to draw the investor’s interest despite denial of the underlying prices of ownership, the JPMorgan bank investment (JPM) said.
The US Spot Ether ETFS hosted an estimated $ 84 million in net inflows on May 28, as the investor’s interest was stable even with ether dropping 1.3%, the bank said in a report published on Thursday.
The lead in the pack was Blackrock’s Ishares Ethereum Trust (ETHA), which brought $ 52 million, followed by Fidelity’s Ethereum Fund (Feth) with $ 26 million. Mini Eth Trust and Invesco/Galaxy’s Qeth’s Qeth added $ 5 million and $ 2 million, respectively, the bank said.
Interestingly, Ether ETF has recorded a notional trading volume of $ 459 million, higher in their post-launch daily average of approximately $ 375 million ever since Debuting in July 2024The bank was observed.
Meanwhile, the Bitcoin ETFS spot brought an estimated $ 431 million to net inflows, JPMorgan said, mainly strengthened by Blackrock’s Ishares Bitcoin Trust (IBIT), which only saw $ 479 million in new investment.
The strong flow was partially -offset by redemption from Ark 21shares Bitcoin ETF (ARKB), the bank said, pouring $ 34 million, and Fidelity’s FBTC, which recorded $ 14 million in streams.
Despite the 2.1% Bitcoin collapse in price, the total trading volume remained elevated, which was up to $ 3.5 billion, compared to the average group of $ 2.8 billion per day since Launching In January 2024, the report was added.
Investors move from gold to Bitcoin ETF, according to a Thursday Report By Bloomberg. The US Bitcoin ETF has seen $ 9 billion in the last 5 weeks compared to $ 2.8 billion in flow for gold-supported funds.
Read more: The Bitcoin Spot ETF pulled out at $ 5.77B in May, their best performance since November
