Bittime - With an increase of 12,000 Bitcoins in one week, Bitcoin purchases by ETFs reached the $252 million milestone in May. Amid growing investor interest in digital assets, the Securities and Exchange Commission approved an Ethereum spot ETF.
Amount Bitcoin Purchased by ETFs Reaches Impressive Milestone
Net inflows trended steadily upward over the past week, totaling $252 million in May alone. Significant inflows included Fidelity's FBTC ETF at $43.7083 million and BlackRock's IBIT ETF hitting $182 million. Putting it all together, Bitcoins purchased by the ETF on May 24 reached 3,654, an increase of more than 12,000 during the week.
Although using ETFs to gain exposure to Bitcoin, investors can take advantage of the crypto asset market without buying it directly. The value of Bitcoin purchased by ETFs is currently 4.36% of the total Bitcoin supply, or $59.07 billion, according to SoSo Value.
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Amid Growing Investor Interest, SEC Approves Ethereum ETF
Additionally, the Securities and Exchange Commission (SEC) recently approved an Ethereum spot ETF, which has increased speculation in the market following the success of Bitcoin ETFs. According to Crypto Fund Research, there is increasing activity in the crypto asset investment industry, with 25 new venture capital and hedge funds being founded.
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Funds Used Experience a Drastic Increase
This shows increasing investor interest in digital assets, with the highest number of fund launches since the second quarter of 2021. On the other hand, the number of new funds established has doubled compared to funds closed in the same period. This figure is also almost three times the amount of funds coming in in the first quarter of 2023, which at that time shows positive sentiment in the market.
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Conclusion
In the past week, Bitcoin ETF purchases have increased by 12,000. This May, net inflows were $252 million, with the FBTC Fidelity ETF and IBIT BlackRock ETF purchasing 4.36% of the total supply of Bitcoin. With many new hedge funds and venture capital launches, the SEC also approved an Ethereum spot ETF amid increasing investor interest.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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