The cryptocurrency market is experiencing a significant uplift in institutional engagement, marked by over $1 billion in net inflows into US spot Bitcoin and Ethereum ETFs on Thursday. This period saw the strongest daily performance for Bitcoin funds since January and for Ethereum funds since February.
Bitcoin ETFs Lead the Charge
Spot Bitcoin ETFs attracted the vast majority of this capital, securing $934.8 million. BlackRock’s IBIT fund notably dominated, contributing $877 million. This pushed IBIT’s year-to-date inflows past $7.7 billion, firmly establishing it among the top five ETFs in the United States. Fidelity’s FBTC and Ark’s ARKB also recorded moderate gains. Total Bitcoin ETF inflows have now exceeded $44 billion since January, indicating sustained positive momentum.
Ethereum Funds See Strong Performance
Spot Ethereum ETFs also saw substantial activity, contributing $110.5 million, which marks their best daily result since February. This sector has now recorded five consecutive days of net gains, with positive inflows observed from funds managed by Grayscale, Fidelity, and Bitwise.
Driving Factors Behind the Influx
Market analysts attribute this impressive surge in ETF inflows to several converging factors. A primary driver appears to be renewed institutional confidence in the digital asset space. This is coupled with a generally more favorable environment for risk-taking among investors. Additionally, some speculate that potential liquidations of cryptocurrency reserves held by various governments could be influencing market dynamics. Michael Harvey of Galaxy further emphasized this trend, noting that “corporate purchases seem to be leading the rankings,” suggesting a strong push from established entities rather than solely retail investors.
Senior Crypto Correspondent with over 8 years of experience covering Bitcoin, altcoins, and blockchain technology for leading financial publications. Alexander holds a master’s degree in Financial Economics and specializes in in-depth market analysis, regulatory updates, and interviews with top industry figures.