Crypto Funds Flooded with $1 Billion in BTC and ETH Inflows
The spot Bitcoin ETFs have seen significant inflows in the past week, raking in nearly $1 billion. Despite a net outflow of $236 million on September 1, the funds offset this loss with gains in the other four days, ending the week with a net gain of $924.48 million.
This is part of a larger trend of cumulative net inflows for Bitcoin ETFs, which have reached $55.62 billion. BlackRock's IBIT remains the largest fund in this space, with cumulative net assets exceeding $62.6 billion.
The spot Ethereum ETFs have also been performing well, with only one week of net outflows since early July. They have seen a surge in inflows over the past few weeks, with $824.42 million entering the funds during the week ending August 28 and another $218.41 million in the first week of September.
These cumulative total net inflows for Ethereum ETFs have skyrocketed from $10.89 billion in early July to $13.19 billion on September 4.