This week, US crypto ETFs displayed significant growth in inflows, supported by new data from analysts at Phoenix Group.
Rising Demand for Ethereum
According to the data, BlackRock’s iShares Bitcoin ETF (IBIT) remains the market leader. Over the past week, the fund recorded a trading volume of $3.5 billion and currently manages assets worth $75.9 billion. BlackRock’s iShares Ethereum ETF (ETHA) attracted $912 million in trading volume and currently holds $4.7 billion in assets under management, reflecting a growing investor appetite for Ethereum.
Top Crypto ETFs by Trading Volume
Third in line is Fidelity Bitcoin Fund (FBTC) which drew in $303.9 million in trading volume over the period and currently manages $21.3 billion in assets. ProShares Bitcoin ETF (BITO) ranks fourth, experiencing a trading activity valued at $219 million. It currently holds $2.7 billion in assets under management. Grayscale Bitcoin Trust (GBTC) rounds out the top five crypto ETFs by trading volume with $201.6 million over the week, managing $20 billion in assets.
Factors Driving Interest
These significant net inflows indicate strong investor interest, suggesting rising institutional demand for these assets. Investors are viewing them as long-term investments with substantial profit potential. The sustained influxes into these funds over the past eight weeks suggest that institutions and wealthy individuals are optimistic about the future of these assets.
The ongoing inflows into these crypto funds highlight a broader trend of institutional investors increasing their stakes in crypto assets, focusing on portfolio diversification.
