Bitcoin trades steady, waiting for a strong catalyst to move higher
Dollar Cost Averaging, slowed Bitcoin’s momentum towards the $110,000 mark. Despite the correction, the ETF space saw some action, creating more milestones for the crypto market towards the end of the year.
On the other hand, we also saw crypto becoming a solution for major economies like Russia in international payments, increasing the scope for real-world adoption of crypto.
Ethereum ETFs Hits the $2.5 Billion AUM
Ever since the Fed’s meeting, most tokens have been trading sideways with investors waiting for a positive catalyst to pick up the momentum. During the correction, even the institutional investors saw a shift in preference with Ethereum ETFs seeing inflows of $301.4 million in the past week, hitting $2.5 billion in AUM. At the same time, Bitcoin ETFs saw an outflow of $1.1 billion. This shows a clear shift in institutional sentiment, indicating a strategic move toward diversification. The outperformance of Ethereum ETFs could also mean that the institutions are getting ready for other ETFs that are in talks such as Solana ETFs and Ripple ETFs.
In the last week, we also saw the SEC approving the first-ever hybrid ETFs combining Bitcoin and Ethereum ETFs. This along with Vivek Ramaswamy’s Strive filing for “Bitcoin
