Bitcoin and Ethereum ETFs See Record Inflows Amid Price Increases
Bitcoin and Ethereum exchange-traded funds (ETFs) experienced significant inflows amid rising prices. Spot Bitcoin ETFs in the United States reported multi-billion-dollar inflows, while Ethereum ETFs gained momentum after a slow start.
Bitcoin ETF Inflows
Initially, Bitcoin ETFs faced outflows, with $435.5 million withdrawn on Monday and $122.8 million on Tuesday. However, a trend reversal occurred with substantial inflows: $353.6 million on Monday, $676 million on Tuesday, $556.8 million on Wednesday, $766.7 million on Thursday, and $376.6 million on Friday. Total net inflows reached $2.73 billion, primarily benefiting BlackRock’s IBIT, which captured over $2.6 billion. This influx propelled Bitcoin’s price to a new all-time high of $100,350 on Thursday, surpassing the $100,000 mark for the first time.
Ethereum ETF Performance
Ethereum ETFs also saw a turnaround, attracting $1.4 billion over the past two weeks, with last week alone contributing $836.8 million, the highest since their launch in July. Notable inflows included $428.5 million on Thursday, $24.2 million on Monday, $132.6 million on Tuesday, $167.7 million on Wednesday, and $83.8 million on Friday. This surge coincided with Ethereum’s price exceeding $4,000 on Friday, reflecting an 8% increase from the previous Sunday, marking the first time it reached this level since March.
Market Implications
These developments underscore the increasing interest in crypto ETFs as investors seek alternatives to traditional assets. With rising prices for Bitcoin and Ethereum, these funds serve as key instruments for exposure to the evolving cryptocurrency market.