Bitcoin ETFs See $2.68B In Weekly Inflows Amid Robust Price Action

The surge of investor interest in Bitcoin ETFs has been big this week, with a net total of $2.68 billion.

This implies that more and more institutional and retail investors are looking to get into Bitcoin exposure.

This corresponds to a rise in Bitcoin ETF inflows due to a positive market sentiment based on Bitcoin’s stable price development. The uptick might have enhanced investors’ confidence regarding these funds.

Blackrock’s Large Daily Inflows

Blackrock’s iShares Bitcoin ETF has seen outstanding inflows, to the tune of $240.1 million.

IBIT holds a market cap of $54 billion, and its volume is $1.5 billion, making it the largest Bitcoin ETF in terms of market cap.

Strategy’s Michael Saylor has recently asserted that IBIT can become the “biggest ETF in the world” within a decade.

Consequently, IBIT has always been a major player in the Bitcoin ETF market. Recent developments continue to indicate that institutional investors, in particular, are increasingly willing to put their hands wherever Bitcoin adds value as an inflation hedge and counter to market volatility.

Other Bitcoin ETFs have also received many contributions including ARKB, Fidelity’s FBTC, and Grayscales’s GBTC.

In recent months, Bitcoin’s price has increased, and the value of these ETFs has also skyrocketed.

Ethereum ETFs Show Steady Growth

In contrast, Ethereum ETFs have also seen the attraction of investors, albeit more slowly than Bitcoin ETFs.

Net inflows on Ethereum ETF reached $104.01 million. The main reason was Fidelity’s Ethereum fund (FETH), which had 19,235 ETH and was about $34.49 Million.

The total amount of ETH FETH now held is 382,760 ETH (worth $686,29 million). This illustrates Fidelity’s strong standing in the Ethereum ETF market. It also shows the rising institutional demand for Ethereum as an essential player.

However, Grayscale’s Ethereum Trust (ETHE), the largest Ethereum ETF, has had a different trend. The hefty ETH Holdings of 1,152,763 ETH have not prevented the accumulated losses of 16,221 ETH (equivalent to $28,439 ETH in the past week).

The decline in this outflow may be due to a move away from investors’ preferences or strategic moves on the part of the fund.

Yet, Grayscale’s Ethereum Trust is still one of the largest Ethereum ETFs. Its holdings could be seen as a statement of growing institutional interest in Ethereum.

The smaller Ethereum ETFs include the Franklin Ethereum ETF (EZET) and VanEck Ethereum ETF (ETHV), the former of which has seen slightly smaller inflows.

ETHV held no net change with its holdings, whereas EZET put on 888 ETH. These funds show the ongoing capital flows to Ethereum, but still not that of Bitcoin.

Bitcoin and Ethereum ETF Comparison

The recent data pinpoints the stark difference between the inflows of Bitcoin and Ethereum ETFs. Bitcoin remains the leading cryptocurrency in terms of ETF inflows, attracting the preference of investors who want to invest in digital assets.

While Bitcoin continues to receive a lot of attention, Ethereum hasn’t received the same type of volume inflows.

However, the growing interest in Ethereum-based ETFs can be explained due to Ethereum’s increasing use case in decentralized (dApps) and smart contracts, and also the fact that the future for Ethereum is still auspicious.

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