Bitcoin ETFs Continue to Draw Inflows, Recording $235 Million in Net Gains

On Monday, U.S. spot bitcoin exchange-traded funds (ETFs) reported massive net inflows totaling $235.19 million. This marked a second consecutive day of positive momentum for these financial products.

Individual Contribution

Leading the charge was Fidelity’s FBTC, which saw the largest daily inflow of $103.68 million, according to data provided by SoSoValue. Following closely behind was BlackRock’s IBIT, the largest bitcoin ETF by net assets, with $97.88 million in inflows, a considerable increase after it reported zero flows last Friday.

Other prominent ETFs also benefited from the market’s rising interest in cryptocurrency investments. Bitwise’s BITB saw net inflows of $13.09 million, while Ark and 21Shares’ ARKB logged $12.63 million.

VanEck’s HODL also saw inflows of $5.37 million, and Invesco’s BTCO ETF recorded a modest $2.53 million. Interestingly, Grayscale’s GBTC, the second-largest spot bitcoin ETF, along with six other funds, saw no inflows on Monday, suggesting that the attention of investors may be concentrated on a select few funds.

Ethereum ETFs Face a Slump

In contrast, spot Ethereum ETFs reported zero net inflows on the same day. This stagnation comes after spot Ether ETFs saw a $7.39 million influx on Friday, followed by outflows of $3.2 million on Thursday.

Despite this brief activity, investor interest in Ethereum ETFs appears to have quieted down for now. The total trading volume for the nine Ethereum ETFs dropped to $118.43 million on Monday, down from $148.01 million on Friday.

The overall trading volume of the 12 bitcoin ETFs remained robust, reaching $1.22 billion on Monday, up slightly from $1.19 billion the previous Friday and $1.13 billion on Thursday. This steady increase in volume underscores growing investor enthusiasm for crypto-focused funds, with bitcoin maintaining its position as a favored asset.

Growing Interest

Amid the growing interest in cryptocurrency ETFs, Bitwise recently filed for a spot Ripple ETF with the U.S. Securities and Exchange Commission (SEC) via its S-1 filing, signaling its confidence in the crypto ETF market’s future.

At the time of writing, Bitcoin had dipped slightly by 2% over the past 24 hours to $62,757, while Ether also experienced a 2.09% decline to trade at $2,442. Despite these minor fluctuations, the appetite for crypto ETFs remains strong, hinting at continued growth in the sector.