ETF Bull Market Unstoppable

Cryptocurrency news website reports:
One prominent feature of the current crypto bull market is the influx of institutional capital, with spot Bitcoin ETFs becoming an important channel for institutional funds to enter in compliance.
With the further development of the crypto market and the gradual clarity of the regulatory environment, the impending approval of the spot Ethereum ETF and the Solana ETF application submitted by VanEck to the SEC undoubtedly bring new vitality and expectations to the crypto market. The introduction of these ETF funds will undoubtedly bring more incremental capital and users to the crypto market, thereby promoting the overall prosperity and development of the market.
In this bull market, is it possible that ETFs will predominantly lead the market due to innovation shortcomings in certain aspects of the crypto market? Let’s now review the latest developments and operation status of current cryptocurrency ETF funds.
First, Spot Bitcoin ETFs:
Since BlackRock submitted the application for spot Bitcoin ETFs in June last year, after more than half a year of effort, the U.S. SEC finally approved 11 spot Bitcoin ETFs in January this year.
As of June 27, the total scale of spot Bitcoin ETF funds in the U.S. has reached $531.3 billion, accounting for 4.38% of the total Bitcoin market value.
Despite initial outflows experienced by Grayscale’s GBTC due to early user arbitrage and high funding rates, other spot Bitcoin ETFs have been consistently experiencing net inflows. Ultimately, spot Bitcoin ETFs in the U.S. achieved a total net inflow of $14.45 billion, demonstrating a strong demand for these ETFs in the market.
Currently, the BTC holdings of the BlackRock spot Bitcoin ETF fund have surpassed Grayscale’s, reaching 305,600 coins, making it the largest spot Bitcoin ETF fund currently.
In terms of inflows and outflows of major funds such as BlackRock (IBIT) and Fidelity (FBTC), they have generally been in a state of net inflow, indicating that the introduction of spot Bitcoin ETF funds aligns with market demand, as there is a strong demand for Bitcoin in traditional securities markets.
Second, Spot Ethereum ETFs:
After the approval of spot Bitcoin ETFs by the U.S. SEC, asset management institutions like BlackRock have shifted their focus to spot Ethereum ETF funds, as Ethereum is widely regarded as the consensus leader in the crypto market after Bitcoin.
Currently, there have been significant developments in the progress of spot Ethereum ETFs, such as: