According to Token Terminal, BlackRock is setting the pace in tokenized funds, with its BUIDL fund surpassing $2.4B under management solidifying its position as the dominant force in this emerging market.
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On August 21, U.S. ETF flows painted a clear picture of shifting demand.
Roughly $194.4M worth of Bitcoin exposure was trimmed, while $287.6M flowed into Ethereum, showing a strong appetite for ETH over BTC in that session.
The balance of capital signals how institutions are rotating between the majors rather than stepping away from the market altogether.