What Is Going On With Bitcoin Spot ETFs?
By Benzinga
Bitcoin spot ETFs experienced significant net inflows on July 1, marking the continuation of a positive trend over five consecutive days.
What Happened: The total net inflow amounted to $129 million, reflecting increasing investor confidence in these financial instruments.
Notably, the Fidelity ETF (BATS:FBTC) attracted a single-day inflow of $65.034 million, while the Bitwise ETF (BATS:BITB) saw a single-day inflow of $41.4022 million, according to data from SoSo Value.
In related news, Nate Geraci, president of The ETF Store, said that the US SEC has confirmed receipt of the 19b-4 application for the Hashdex Nasdaq Crypto Index US ETF.
This fund is unique in that it will hold both spot Bitcoin and Ethereum, offering investors diversified exposure to these leading cryptocurrencies.
The final deadline for SEC approval is expected around the first week of March 2025.
Also Read: Gaming Giant Sony Jumps Into Crypto With Revamped Exchange
The approval and subsequent launch of the Hashdex Nasdaq Crypto Index US ETF could further bolster the inflow of funds into Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), providing a new avenue for institutional and retail investors alike to gain exposure to these assets.
The integration of both Bitcoin and Ethereum into a single ETF is a significant step forward in the maturation of the cryptocurrency market, highlighting the increasing acceptance of digital assets within traditional financial markets.
The continued inflows into Bitcoin spot ETFs and the potential approval of the Hashdex Nasdaq Crypto Index US ETF underscore a pivotal moment for the cryptocurrency industry.
What’s Next: Regulatory developments like these are likely to be extensively analyzed at Benzinga’s Future of Digital Assets event on Nov. 19.
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