On June 12, Fidelity dumped 1,820 Bitcoin (BTC), worth over $190 million in total, in one of the largest institutional Bitcoin moves in recent weeks.
At the time of writing, the total daily volume for BTC is up 35%, sitting at $71.09 billion. The price, on the other hand, sits at $105,102, down -1.83%, suggesting short-term price volatility.
Ethereum ETFs
At the same time, Fidelity bought another 3,900 ETH, amounting to over $9.8 million. While Ethereum is down -7.24% in the past 24 hours, ETH ETFs seem to be breaking records, witnessing inflows above $110 million today.
Compared to Fidelity, BlackRock went the extra mile with no less than 36,640 ETH, more than $92.5 million in total. And this is just two days after its already enormous $80.6 million purchase.
Whatever the numbers might suggest, all eyes seem to be on ETFs as institutional owners make unprecedented moves.
What’s more, with the Ripple v. SEC case potentially nearing a settlement, altcoin ETFs are likely to become an even hotter topic in the following weeks.
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