Global #ETFs

As the financial world awaits the Federal Open Market Committee (FOMC) meeting, scheduled to provide crucial insights into potential rate cuts by the Federal Reserve in September, attention in the cryptocurrency market is particularly focused on Bitcoin and Ethereum Exchange-Traded Funds (ETFs).

BlackRock, a leading global investment management corporation, has indicated a strong preference for Bitcoin and Ethereum in the realm of cryptocurrency exchange-traded funds (ETFs).

As per a recent report from CryptoQuant, large investors, often referred to as "whales," are accumulating Bitcoin at a rate reminiscent of the period before the 2020 bull market. The data from the firm indicates daily inflows of $1 billion into Bitcoin and a notable uptick in holdings by these whales, similar to patterns observed in mid-2020.

Bitcoin exchange-traded funds (ETFs) have attracted $488 million in net inflows, pushing the price of BTC to $71,767, nearing its peak value and indicating renewed investor confidence.

ProShares, a prominent issuer of exchange-traded funds (ETFs), has submitted a proposal to the New York Stock Exchange (NYSE) to list and trade spot Ethereum (ETH) ETF shares. This initiative underscores ProShares' dedication to broadening its range of digital asset products, offering investors a regulated and secure avenue to access Ethereum exposure.

Despite the recent approval by the US Securities and Exchange Commission (SEC) for several spot Ethereum ETFs, South Korean investors are still waiting for similar opportunities to arise.