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Spot Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs are tipped to start the next phase of the bull cycle soon.
What Happened: Spot Bitcoin ETFs have reported a cumulative total net inflow of $14.65 billion as of July 1, with $129.5 million accumulated on July 1 alone. So far, the Grayscale Bitcoin Trust (OTC:GBTC) has recorded a cumulative net outflow of $18.5 billion, while the iShares Bitcoin Trust (NASDAQ:IBIT) has the cumulative net inflow at $17.7 billion.
Spot Ethereum ETFs could be approved for trading by mid-July, with Gemini Research estimating net inflows of up to $5 billion and total inflows between $13- $15 billion by the end of the year.
Also Read: Spot Ethereum ETFs Could Take In Up To $15B In 2024: Gemini Research
Why It Matters: ETF Store President Nate Geraci predicted that Spot Ethereum ETFs will be the second most successful debut in ETF history, only behind spot Bitcoin ETFs. Both ETFs will go down as the most successful launches in more than 30 years of ETF history, according to him.
Quinn Thompson stated that he expects the "largest asset managers embarking on an arms race” to position themselves as the top ETFs for Ethereum.
Crypto trader Jelle expects an uptrend upon trading launch:
What’s Next: The influence of Ethereum as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Image: Shutterstock
Read Next: What Is Going On With Bitcoin Spot ETFs?
