Bitcoin and Ethereum ETFs See Record $900 Million Inflow
US spot ETFs have seen a significant influx of fresh capital, with nearly $900 million poured into Bitcoin and Ethereum exchange-traded funds. This surge in demand has pushed Bitcoin above $81,000 and Ethereum to over $2,500.
The majority of this investment went into BlackRock's IBIT, which accounted for about 62% of the total Bitcoin inflows with $454 million. Other notable contributors include ARK 21Shares' ARKB ($137.7 million) and Fidelity's FBTC ($74.4 million).
Ethereum ETF demand was similarly concentrated, with BlackRock's ETHA and Fidelity's FETH attracting a combined $137.2 million.
According to Simon-Peter Massabni, head of business development at XS.com, the significant flows absorbed substantial sell orders and helped lift spot prices despite rising sovereign bond yields in the US and Japan.