Bitcoin and Ether ETFs Flooded with Record $706 Million as Price Surges
Bitcoin's price surge above $70,000 on Wednesday triggered a massive influx of institutional capital into U.S. spot bitcoin exchange-traded funds (ETFs), with a total of $517.19 million flowing in. This is the largest daily inflow since May 4, and it surpassed Tuesday's level by around $5 billion.
Blackrock led the charge with its IBIT ETF attracting $284.74 million, more than half of the total bitcoin inflows. Other notable contributors included ARK 21Shares' ARKB, Fidelity's FBTC, and Bitwise's BITB. Grayscale's GBTC and Bitcoin Mini Trust also saw significant inflows.
Not to be left out, ether funds surged with $189.15 million in net inflows, driven by ETH moving above $2,000. Blackrock's ETHA ETF collected $122.12 million, while Fidelity's FETH added $36.54 million.