Crypto ETF rally continued Wednesday with $462M flowing into Bitcoin funds and $169M into Ether funds. SOL and XRP ETFs also posted gains as institutional demand broadens.
On April 22, Bitcoin spot ETFs recorded $331.9M net inflows. BlackRock IBIT led with $246.86M, followed by Fidelity FBTC $56.69M. Grayscale GBTC saw $16.56M outflow. Institutional capital continues flowing into BTC.
Grayscale's Mini Bitcoin Trust (ticker BTC) began trading on Wednesday, increasing the number of spot Bitcoin ETFs to 12. Net inflows were a modest $298,930, as inflows from the new trust and BlackRock's IBIT were largely offset by outflows from Fidelity's FBTC.
U.S. spot Bitcoin ETFs attracted $11.11 million in net inflows on Thursday, led by Fidelity's FBTC. In contrast, Ether ETFs shed $39.21 million, driven by Grayscale's ETHE. Cumulative net inflows for Bitcoin ETFs stand at $17.33 billion, while Ether ETFs remain in negative territory with $405 million in outflows.
Crypto ETFs opened February with sharp divergence. Bitcoin and ether spot ETFs posted net weekly outflows of $318 million and $166 million, while XRP spot ETFs attracted $39 million, standing out as a rare bright spot.
Grayscale Bitcoin Trust saw its daily outflow drop to 4,461 BTC on Jan 31, 2024, pushing total holdings below 500,000 BTC. Meanwhile, nine newly launched spot Bitcoin ETFs have collectively amassed 160,661 BTC, signaling a shift in investor preference.
BlackRock's iShares Bitcoin Trust (IBIT) set new records on Tuesday with $1.357 billion in trading volume and $520.2 million in net inflows, the largest single-day inflow for any Bitcoin ETF. Total Bitcoin holdings surpassed 141,000 BTC, worth over $8 billion, ranking in the top 5% of all ETFs. Analyst Eric Balchunas noted the surge reflects genuine buying demand.
Blackrock’s spot bitcoin ETF IBIT posted a record $1.357 billion in daily trading volume and $520.2 million in net inflows, pushing its bitcoin holdings above 141,000 BTC.
