Bitcoin, Ethereum ETFs Record Highest Daily Inflows Since January, Surpassing $1 Billion
Amid bullish winds in the cryptocurrency market, U.S. spot ETFs based on Bitcoin and Ethereum saw their highest daily inflows since January on Thursday, with a combined net inflow of $1.05 billion.
This strong entry came as Bitcoin reached a new all-time high and Ethereum delivered its best performance in months.
On May 22, spot Bitcoin ETFs attracted attention with a total inflow of $934.8 million, which was the highest daily fund flow seen since January 17.
BlackRock’s IBIT fund alone accounted for the bulk of the inflows: $877.2 million. Fidelity’s FBTC fund received $48.7 million, and ARK Invest’s ARKB fund received $8.9 million. Other Bitcoin ETFs saw zero inflows on the same day.
IBIT has attracted more than $7.7 billion in funds in the past month, making it one of the top five ETFs with the most inflows since the beginning of the year. The fund’s assets under management have reached $68.7 billion.
In the last seven days, a total of $3.2 billion has flowed into spot Bitcoin ETFs, while the figure has risen to $9.1 billion since the beginning of the year and a cumulative total of $44.6 billion since the launch in January 2024.
Spot Ethereum ETFs recorded the highest daily fund flow since February 4, with a net inflow of $110.5 million on the same day.
Grayscale’s ETHE fund raised $43.7 million, Fidelity’s FETH product raised $42.2 million, Bitwise’s ETHW fund raised $5.7 million, but some products, including BlackRock’s ETHA fund, saw zero inflows.
Ethereum ETFs have been receiving inflows for the last five days in a row. During this period, a total of $211.8 million was attracted, while the net inflow since the beginning of the year reached $61.9 million, and the total cumulative inflow reached $2.7 billion.
“Yesterday’s ETF inflows were exceptional. They are well above recent averages and support the bullish trend in the market,” said Valentin Fournier, Research Analyst at BRN.
Michael Harvey of Galaxy said that some of this demand is being met through the sale of crypto assets seized by governments and the realization of profits by individual investors, but the real driving factor is ‘risk appetite’ and institutional purchases.
*This is not investment advice.
