Bitcoin ETFs Gain $216 Million in Seven-Day Inflow Streak Led by Blackrock

Bitcoin exchange-traded funds (ETFs) have extended their inflow streak to seven consecutive days, closing with a net gain of $216 million. This significant inflow was largely driven by Blackrock’s IBIT, which attracted an impressive $639.19 million. This substantial investment by Blackrock offset significant outflows from other major funds, including Fidelity’s FBTC, which saw a $208.46 million outflow, and Ark 21shares’ ARKB, which lost $191.40 million. Despite these outflows, the overall market remained in positive territory, indicating strong investor demand for Bitcoin ETFs.

Bitwise’s BITB also experienced an outflow of $22.84 million, but the day still closed with a net inflow of $216.48 million. Total trading activity surged to $4 billion, with net assets holding firm at $128.18 billion. This resilience in the market suggests that investor confidence in Bitcoin ETFs remains high, despite fluctuations in the cryptocurrency market.

Ether ETFs also showed resilience, with a net inflow of $11.09 million. Although Fidelity’s FETH lost $20.22 million and Grayscale’s ETHE saw a $9.02 million outflow, fresh capital flowed into Blackrock’s ETHA ($36.71 million) and Bitwise’s BITB ($3.62 million). Ether ETF trading volumes hit $528.36 million, with total net assets steady at $10.05 billion. This indicates that investor interest in Ether ETFs is also robust, despite the mixed flows across various funds.

Despite the mixed flows across various funds, the overall market remains firmly in accumulation mode. This suggests that investor confidence in the cryptocurrency market is still high, and that Bitcoin and Ether ETFs continue to be attractive investment options. The significant inflows into Blackrock’s funds, in particular, highlight the growing institutional interest in the cryptocurrency space. As more institutional investors enter the market, it is likely that Bitcoin and Ether ETFs will continue to play a key role in investment portfolios, offering a regulated and accessible way to gain exposure to the cryptocurrency market.