Global #Bitcoin ETFs

On May 21, 2024, Ethereum exchange-traded funds (ETFs) in Hong Kong witnessed a surge in daily inflows, marking their highest since their launch on April 30.

Some top analysts on Wall Street are suggesting that the US Federal Reserve's potential shift in stance on inflation could serve as a catalyst for a significant surge in the cryptocurrency market, potentially amounting to trillions of dollars. This forecast is driven by the anticipation of about $6 trillion in sidelined capital returning to the market as the Fed eases its hawkish stance.

BlackRock's Bitcoin ETF experienced a significant increase in investment on Tuesday, receiving $290 million in inflows, which accounted for 95% of the total inflow into US spot Bitcoin ETFs.

Institutional investors have made a significant entrance into the cryptocurrency market, particularly following the introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States.

In the past 24 hours, Bitcoin has continued its recent upward trend, reaching its highest price in over a month at just over $67,400. Ethereum has also joined the rally, breaking through the significant resistance level of $3,000 and surging above $3,100.

In a notable indication of increasing acceptance within mainstream finance, Morgan Stanley has disclosed a substantial investment of $269.9 million in Bitcoin through Grayscale’s GBTC trust, as noted in its first-quarter 13F filing.