The appetite for cryptocurrency exposure through exchange-traded funds (ETFs) reached new heights last week, with Bitcoin ETFs alone attracting over $2.7 billion in net inflows over five trading days. These significant capital inflows reflect a growing institutional demand on Wall Street, leading Bitcoin to a historic peak of nearly $119,000.
Record Inflows for Bitcoin and Ethereum ETFs
- Bitcoin ETFs saw weekly inflows of $2.7 billion, pushing BTC to an all-time high nearing $119,000.
- Ethereum ETFs accumulated $908 million, helping ETH surge by 17% to peak above $3,000.
- BlackRock’s IBIT and ETHA funds led the way, illustrating strong institutional interest in cryptocurrency exposure.
According to data from FarSide Investors, the most notable activity occurred on Thursday and Friday. On Thursday, Bitcoin ETFs experienced their second-largest daily inflow in 18 months, totaling $1.18 billion. The contributions came from major funds: BlackRock’s IBIT received $448.5 million, Fidelity’s FBTC secured $324.3 million, and ARK Invest’s ARKB drew $268.7 million. The momentum continued on Friday with an additional $1.03 billion in inflows.
BlackRock’s IBIT led the charge, capturing $953.5 million, while ARKB followed far behind with just $23.5 million. Earlier in the week, positive inflows were consistent, amounting to $216.5 million on Monday, $80.1 million on Tuesday, and $215.7 million on Wednesday. The total net inflow for the week reached $2.72 billion, further underscoring the acceleration of institutional cryptocurrency adoption. Notably, funds have experienced only one day of net outflows since June 9.
Ethereum ETFs Experience Significant Gains
Ethereum-based ETFs also saw substantial inflows last week, benefiting from increased investor confidence ahead of their first anniversary. These ETFs recorded $908.1 million in net inflows for the week, according to FarSide data. Thursday marked a record day for Ethereum ETFs, with $383.1 million in inflows, largely driven by BlackRock’s ETHA fund, which alone accounted for over $300 million of this total.
The ETHA continued to dominate on Friday, capturing $137.1 million of a total influx of $204.9 million. Other significant contributions included $211.3 million on Wednesday and $62.1 million and $46.7 million on Monday and Tuesday, respectively. This sustained influx in Ethereum funds contributed to rising ETH prices, which began the week around $2,500 and surpassed $3,000 by Friday. Although it has since dipped slightly, the asset remains over 17% higher for the week.
Market Reaction to Institutional Momentum
The substantial ETF inflows have had an immediate effect on the prices of the underlying assets. Bitcoin soared by more than $10,000 during the week, reaching a historic high close to $119,000 on Friday. Similarly, Ethereum had its best performance in months, fueled by rising capital inflows and renewed optimism among investors.
In total, Bitcoin and Ethereum ETFs attracted over $3.6 billion in capital last week, highlighting the increasing role of cryptocurrency assets in traditional investment portfolios. With consistent inflows and new peaks in asset prices, institutional interest in cryptocurrencies appears far from diminishing.
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