Bitcoin exchange-traded funds (ETFs) saw a massive influx of cash last week, according to the crypto analytics firm Lookonchain.
Billions in Bitcoin ETFs
Lookonchain reported that the top 10 Bitcoin ETFs raked in a staggering $2.78 billion in just seven days. That’s 29,321 Bitcoin! This comes as Bitcoin’s price climbed above $90,000. The firm also noted that Ethereum ETFs saw positive inflows, though significantly smaller at $36.5 million.
Blackrock’s Big Gains: Lookonchain highlighted iShares (a Blackrock fund) as a major player, with substantial inflows into both their Bitcoin and Ethereum ETF offerings.
The Bigger Picture
Data from SoSoValue shows the overall picture is even more impressive. As of April 25th, a total of $109.27 billion has flowed into US Bitcoin ETFs, and $6.14 billion into US Ethereum ETFs.
Sui’s Sudden Surge
Lookonchain isn’t just watching Bitcoin and Ethereum. They’re also keeping an eye on Sui (SUI), a layer-1 protocol that’s seen a price jump of 60% recently. This rise is linked to increases in total value locked (TVL), decentralized exchange (DEX) volume, and stablecoin growth on the Sui network. At the time of writing, SUI is trading at $3.53.
Disclaimer: This information is for general knowledge only and does not constitute investment advice. Always do your own research before investing in cryptocurrencies.
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