Bitcoin, Ethereum ETFs See $688M Net Inflows, Analysts Target $124,000
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) spot ETFs recorded significant inflows on Dec. 16, signaling strong institutional interest amid a bullish outlook for the crypto market.
What Happened: The total net inflow for Bitcoin spot ETFs reached $637 million, marking 13 consecutive days of positive inflows, according to data from SoSo Value.
BlackRock‘s (NASDAQ:IBIT) Bitcoin ETF led the day with $418 million in net inflows.
Ethereum spot ETFs saw inflows of $51.1 million, continuing a 16-day streak, with BlackRock‘s (NASDAQ:ETHA) ETF contributing $30.7 million.
Experts believe this trend reflects growing confidence in digital assets.
Speaking with Benzinga, Avinash Shekhar, co-founder and CEO of Pi42 said Bitcoin’s rise to its new all-time high this Monday of $107,700 is a significant moment for the crypto market, …
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