The crypto market is on fire, with Bitcoin and Ethereum leading the charge. This isn’t just about price increases; tons of money is pouring into Bitcoin and Ethereum spot ETFs (Exchange-Traded Funds).
Big Money Flowing into Bitcoin ETFs
Bitcoin’s popularity isn’t slowing down. Spot Bitcoin ETFs saw another huge day of inflows – a whopping $297.4 million! This marks eight days and five weeks in a row of positive inflows.
BlackRock’s iShares Bitcoin Trust (IBIT) is the king, pulling in a massive $394.7 million. IBIT is now the biggest Bitcoin spot ETF, with over $54 billion in total inflows and over $76 billion in assets under management (AUM). Other big players like Grayscale, VanEck, and Bitwise also saw significant inflows.
Ethereum ETFs Also Seeing Strong Inflows
Ethereum isn’t far behind. Ethereum spot ETFs raked in approximately $256 million in a single day. BlackRock’s iShares Ethereum Trust (ETHA) led the way, absorbing $151.4 million. Several other Ethereum ETFs also saw substantial inflows.
Record-Breaking Demand
Demand for Bitcoin spot ETFs is at an all-time high, with reports showing a surge to $94.2 million. Cumulative inflows are also at record levels. This massive influx of money is putting upward pressure on Bitcoin’s price.
The Bottom Line
The continued strong inflows into both Bitcoin and Ethereum ETFs show that institutional and retail investors are increasingly comfortable using regulated products to invest in crypto. This trend looks like it’s here to stay.