The “mini” trusts spun off from Grayscale’s legacy Bitcoin and Ether funds in July.
ETF news
Bitcoin has topped $70,000, its highest price since June after US-based ETFs surpassed total joint lifetime net inflows of over $22 billion.
It’s the first United States university endowment to report holding Bitcoin ETFs, according to Bloomberg.
Bitcoin ETFs are recording solid buying, a sign that traders believe to be an indicator that BTC will break through the range highs.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.
Spot Bitcoin ETF demand soars to a six-month high, but BTC futures contract volumes “remain somewhat subdued” and could be a reason why the price is constrained.
In the United States, issuers are seeking to register ETFs for Solana and XRP ahead of the November presidential elections.
Retail investors, not institutions, have been responsible for most of the demand for spot bitcoin ETFs since their launch, says a new report from Binance.
Bitcoin’s correction ignited selling in altcoins, which are slipping below critical support levels.
Bernstein’s report is the latest in a series of bullish forecasts from institutional market researchers ahead of the November US presential election.