Bitcoin ETFs surge past $16 billion milestone; is Ethereum poised to follow?
from Bloomberg. After a brief pullback in June, momentum has returned with a vengeance. Daily investment surged to $300 million yesterday, bringing the weekly total to a staggering $1 billion. The surge has pushed the year-to-date amount invested in Bitcoin ETFs to $16 billion, well ahead of initial projections of $12-15 billion for the full year. And there are still six months to go, reports the expert.
When asked about the prospects of Ethereum ETFs, though, Balchunas estimated that they could attract"about 20% of what we've seen with the Bitcoin ETFs are in"two steps forward" mode after one step back in June with another +$300m yesterday and $1b for week. YTD net total has crossed +$16b for first time. Our est for first 12mo was $12-15b so already cleared that w 6mo to go.. This paves the way for a bunch of new altcoin ETFs that could begin trading as early as July 23.
If ETH ETFs become a thing, it will probably make it easier for more investors to get involved in this fast-developing asset class. Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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