Bitcoin ETFs See $305.87 Million Inflow Led by BlackRock

Bitcoin ETFs experienced a significant surge in capital inflow on June 16, with a total of 2,864 BTC worth $305.87 million added to these investment vehicles. This influx highlights the growing institutional interest in Bitcoin through regulated ETFs. Leading the charge was the iShares Bitcoin Trust (IBIT), managed by BlackRock, which saw an inflow of 2,272 BTC, equivalent to $242.6 million. Following this surge, IBIT now holds 671,795 BTC, making it the largest Bitcoin ETF with a total valuation of $71.74 billion. This continued inflow is reshaping the long-term distribution of BTC and strengthening institutional conviction in the asset.

Other notable Bitcoin ETFs also saw substantial inflows. Fidelity’s FBTC added 240 BTC on the day and 720 BTC over the past week, bringing its total holdings to 197,202 BTC. ARK 21Shares’ ARKB saw a daily inflow of 199 BTC, increasing its total to 46,106 BTC. Bitwise’s BITB gained 141 BTC daily and 767 BTC weekly, lifting its holdings to 38,551 BTC. Vaneck’s HODL ETF rose by 117 BTC on the day and 283 BTC this week. Valkyrie’s BRRR, despite losing 96 BTC today, still netted a weekly gain of 26 BTC. Grayscale’s GBTC and its Mini Trust added 48 BTC and 136 BTC, respectively, totaling over 228,000 BTC.

In contrast, Ethereum ETFs reported a daily net outflow of 3,748 ETH valued at $9.84 million. However, over the week, they added 191,057 ETH, reflecting $501.77 million in capital. BlackRock’s ETHA recorded the highest gains, with 2,126 ETH daily and 138,016 ETH weekly inflows. Grayscale’s ETHE added 4,181 ETH this week, despite a -78 ETH daily change. Fidelity’s ETHF lost 3,496 ETH today but secured 28,218 ETH weekly. Bitwise’s ETHW added 1,165 ETH daily and 5,305 ETH for the week, while smaller funds remained flat or slightly negative.

Despite the daily outflows, the weekly inflows into Ethereum ETFs indicate a strong institutional appetite for ETH. This divergence between Bitcoin and Ethereum ETFs suggests that while Bitcoin continues to attract significant institutional investment, Ethereum is also seeing robust interest, albeit with more volatility in daily flows. The aggressive accumulation of ETH by major players like BlackRock and Grayscale underscores the growing institutional confidence in Ethereum’s long-term potential.

Technical analysis of the ETH/BTC pair shows a bullish ascending triangle pattern on the 4-hour chart. This pattern suggests that Ethereum is building momentum, with support near 0.02360 BTC and resistance around 0.02660 BTC. If the support holds firm, a breakout toward 0.02700 BTC is possible, indicating a potential rally for Ethereum relative to Bitcoin. This technical pattern, combined with the strong institutional inflows, paints a bullish picture for Ethereum in the near term.

In summary, the divergence between Bitcoin and Ethereum ETFs highlights the differing investment strategies and market dynamics at play. While Bitcoin ETFs continue to see strong and consistent inflows, driven largely by institutional demand, Ethereum ETFs exhibit more volatility but still show significant weekly growth. The technical pattern in the ETH/BTC pair further supports a bullish outlook for Ethereum, suggesting that both assets are poised for continued institutional interest and potential price appreciation.