Institutional Investors Pour Over $220M into Bitcoin and Ether ETFs
Institutional investors remain bullish on cryptocurrencies despite market volatility, as evidenced by significant net inflows into Bitcoin and Ether ETFs. On Thursday, a total of $220 million was injected into these funds, with BlackRock's IBIT dominating the scene.
The IBIT fund recorded an impressive $128.33 million in net flows, solidifying its position as the primary access channel for institutional investors. The combined net assets under management for Bitcoin ETFs stood at $78.77 billion, while the total daily trading volume reached $1.36 billion.
BlackRock's ETHA product also collected a substantial $81.14 million in net inflows, making it the top performer among Ether ETFs. The market's second-largest asset, Ether, saw a total net subscription of $92.15 million across five funds.