From time to time, when the cryptocurrency industry starts experiencing a dip, something remarkable happens that uplifts the entire crypto-verse. When it comes to the overall performance of the cryptocurrencies, Bitcoin & Ethereum seem to play a huge role in that. Therefore, if the rallies on BTC and ETH tend to pick up, it results in boosting the performance of both cryptocurrencies.
This time, it is Bitcoin Capital AG that seems to have played the main role in helping both Bitcoin and Ethereum. Bitcoin Capital AG has done it by launching two major exchange-traded funds (ETFs). Bitcoin Capital AG has reportedly launched them through SIX. SIX is one of the largest cryptocurrencies currently based in Switzerland.
The names of the particular exchange-traded funds are FiCAS Active Ethereum ETF (ETHB) and FiCAS Active Bitcoin ETP (BTCB). It has been confirmed that both ETFs will be managed by FICAS AG.
With the launch of the ETFs, the investment community in Switzerland will be able to benefit tremendously. According to Bitcoin Capital AG, it is aiming to target private, professional, and institutional investors in Switzerland. This is going to help Bitcoin and Ethereum tremendously and it is bound to impact their performance in the upcoming days.
Ever since the year 2021 began, the cryptocurrency industry has continued expanding. Although some major institutional investors have adopted cryptocurrencies, the majority of them are still hesitant. It is mainly because of the volatile, high-risk, unregulated, and decentralized nature of cryptocurrencies, which has made most of them very hesitant.
This is where the cryptocurrency industry has come up with its innovation with the involvement of capital funds from the mainstream sector. Their input to the industry was in the form of exchange-traded funds for cryptocurrencies.
The exchange-traded funds do not offer investors to directly invest in cryptocurrencies. Instead, they offer investors the opportunity to invest indirectly in cryptocurrencies through regulated and well-managed funds.
With the ETFs being launched in Switzerland, investments will directly be making it to Bitcoin and Ethereum. The factor will soon kick in for BTC and ETH, which may soon kick off a positive trend for both cryptocurrencies.
At the time of writing, Bitcoin’s price is at $56,230.20 per BTC while the price is $4,513.13 for ETH. The performance chart for both cryptocurrencies shows that neither has done anything special apart from hitting all-time highs. On November 10, 2021, both BTC and ETH hit all-time highs of $68,789.63 per BTC and $4,859.50 on the same day (November 10, 2021).
Even without the ETF factor, the TradingView graph showed that BTC and ETH were both set to hit all-time highs by the end of 2021. With these latest ETFs coming into play, the price of BTC and ETH may go beyond the $71,000 per BTC and $5,200 per ETH predictions.