Big Week for Spot Bitcoin ETFs, Meme Coin Mania Reaches Celebrities, and More: This Week’s Crypto Recap

The previous week was dominated by news and developments on the spot Ethereum ETF front, while the current one was taken over by Bitcoin exchange-traded funds.

It almost felt inevitable after the launch of all US spot Bitcoin ETFs in early January that the BlackRock product will surpass that of Grayscale, which was actually converted from the former BTC Trust. Grayscale’s GBTC saw substantial outflows ever since it first reached the US markets, while BlackRock’s IBIT kept attracting billions of dollars worth of the primary cryptocurrency.

Another major event within the Bitcoin ETF landscape came on Tuesday when all such products, not just those in the US, These positive developments on the ETF front didn’t result in substantial gains for the underlying asset. In fact, bitcoin tried to take down the $70,000 mark on a few occasions and, although it breached it once, couldn’t succeed and currently sits about three grand away from it.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:The weekly charts among most altcoins are quite less eventful than they were last time.

. Although ETH’s price has been consolidating in the past week, ever since the massive surge experienced by the Ethereum ETFs news, the asset has been targeted by large investors who have been on an. Adding to the massive achievements on the Bitcoin ETF front, these products have been on an impressive streak since mid-May. In fact, they are currently on the. As mentioned above, a certain celebrity entered the meme coin ecosystem.

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Spot bitcoin ETFs see 11 straight days of net inflows as IBIT takes top spotBlackRock’s IBIT became the largest spot bitcoin fund in terms of net asset value, overtaking Grayscale’s GBTC.
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