Bitcoin and Ether ETFs Experience Record Inflows
Bitcoin and Ether exchange-traded funds (ETFs) recorded their second-largest day of inflows, highlighting robust market interest. BlackRock‘s Bitcoin and Ether funds led the surge, drawing significant attention from investors. This trend underscores growing confidence in cryptocurrencies as a mainstream asset class.
Key Inflow Figures
US spot Bitcoin ETFs attracted $1.17 billion in inflows, with BlackRock‘s iShares Bitcoin Trust ETF and Fidelity‘s Wise Origin Bitcoin Fund as top performers. Ether spot ETFs followed closely, with $383.1 million in net inflows. BlackRock‘s iShares Ethereum Trust ETF achieved its highest daily inflow on record.
Market Implications
ETF demand for Bitcoin and Ether now exceeds the net issuance of these cryptocurrencies. This shift reflects investors’ increasing preference for cryptocurrency exposure through regulated financial products.
Expert Insight
Nate Geraci, president of NovaDius Wealth Management, noted traditional financial advisors’ reluctance to embrace cryptocurrency ETFs. However, the record inflows indicate a clear change in investor sentiment toward these instruments.
