Growth of Bitcoin and Ethereum ETFs after election results
Following the recent election results in the United States, Bitcoin and Ethereum ETFs have seen a significant increase in investments. Net inflows into Bitcoin ETFs have now reached $24.12 billion, while Ethereum ETFs registered a record net inflow of $52.29 million in a single day. One notable development is that despite some outflows, BlackRock still has significant assets under management in their Bitcoin ETF. Meanwhile, other players such as Fidelity and Grayscale also continue to deliver strong performance in the crypto-ETF sector, indicating wider acceptance of cryptocurrencies as investment options.
Pension funds embrace crypto investments
More and more pension funds worldwide are stepping into the world of cryptocurrencies, demonstrating a significant shift in the traditional financial sector. One notable development is that a British pension fund has allocated 3% of its capital to Bitcoin, highlighting the growing acceptance of digital assets among British institutional investors. Also in the United States, the Michigan Retirement System has expanded its portfolio to include both Bitcoin and Ethereum ETFs. We are seeing more and more institutional investors diversifying their portfolios and the number will only continue to grow.
UBS launches tokenized fund on Ethereum: uMINT
UBS, the world’s largest private bank, has launched a new tokenized investment fund on the Ethereum blockchain, called the UBS USD Money Market Investment Fund Token, or uMINT. By using Ethereum, known as the most popular blockchain for tokenizing assets, UBS hopes to leverage the benefits of security and transparency. With more than $3 billion in tokenized assets on Ethereum, UBS is following a trend also led by other major investment houses such as BlackRock and Franklin Templeton.
