Spot Bitcoin ETFs See Significant Uptake; Ethereum ETFs Expected in May

As Bitcoin ETFs gain traction, the wealth management sector is expected to allocate over $150 billion into these funds. Meanwhile, Standard Chartered predicts approval for spot Ethereum ETFs by May 23.

Spot Bitcoin ETFs have seen inflows of over $1.2 billion, with the wealth management sector expected to allocate more than $150 billion into these funds in the next two years.
Despite a slow start, Bitcoin spot ETFs have seen a significant uptake, with flows over the last three days alone reaching above $500 million.
Standard Chartered predicts that the SEC will likely approve spot Ethereum ETFs by May 23, potentially pushing the price of Ethereum to $4,000.
Global X, a former contender for a spot Bitcoin ETF, has withdrawn its application, marking the first firm to abandon its plans following the SEC's approval of 11 applications earlier this month.
The launch of Bitcoin ETFs has raised questions about potential unforeseen risks to the broader financial system due to the increased ties between the volatile world of cryptocurrencies and traditional finance.