Last week, Bitcoin and Ethereum-based ETFs recorded significant inflows, highlighting the increasing interest from institutional investors in these cryptocurrencies.
Significant Inflows in Bitcoin and Ethereum ETFs
From November 11 to 15, Bitcoin and Ethereum spot ETFs saw substantial inflows. Bitcoin spot ETFs received $1.67 billion in net inflows, while Ethereum spot ETFs achieved a record weekly inflow of $515 million. BlackRock's IBIT and ETHA funds led the market, dominating inflows in both categories.
Impact on Bitcoin Market
Bitcoin spot ETFs have now recorded six consecutive weeks of positive inflows. Last week, BlackRock's IBIT ETF alone attracted $1.89 billion, boosting total Bitcoin ETF net assets to $95.41 billion. This figure accounts for 5.27% of Bitcoin’s market cap, reflecting increased institutional interest in cryptocurrency-backed funds.
Record Figures for Ethereum ETFs
ETH spot ETFs also received increased attention, recording a record weekly inflow. BlackRock's ETHA ETF attracted $287 million, and Fidelity's FETH ETF attracted $199 million. The total net assets of Ethereum ETFs increased to $9.15 billion, which is 2.46% of Ethereum's market capitalization. This growth also shows Ethereum's appeal among investors as the second-largest cryptocurrency by market cap.
The record investments in Bitcoin and Ethereum-based ETFs indicate a growing institutional interest in the crypto market, which could have significant implications for the future development of these assets.
