On Friday, U.S. spot bitcoin exchange-traded funds (ETFs) amassed inflows of $376.59 million, while spot ether funds raked in $83.76 million.
Institutional Investors Pour $376M Into Bitcoin ETFs; Ether Funds See $83M Boost
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Crypto ETFs Continue to Shine
Throughout the week, the 12 spot bitcoin ETFs saw steady inflows daily, culminating in Friday’s impressive $376.59 million haul. Leading the charge was Blackrock’s IBIT, bringing in $257.03 million, followed by Fidelity’s FBTC with $120.17 million. Ark Invest and 21shares’ ARKB secured $24.9 million, and Grayscale’s Bitcoin Mini Trust added $6.75 million to its coffers. The remaining bitcoin funds posted a flat day, neither gaining nor losing.
These inflows boosted total net inflows since Jan. 11, 2024, to $33.43 billion. Daily trading reached $4.08 billion, and as of Dec. 7, 2024, the 12 funds collectively hold $112.74 billion in BTC reserves. Meanwhile, the nine ether funds also enjoyed gains on Friday, gathering a total of $83.76 million.
Fidelity’s FETH led the ether funds with $47.88 million in inflows, followed by Blackrock’s ETHA with $34.56 million. Grayscale’s ETH Mini Trust added $22.9 million, Bitwise’s ETHW gained $13.45 million, and Vaneck’s ETHV contributed $1.49 million. However, not all funds fared well; Grayscale’s ETHE saw $29.59 million in outflows, and 21shares’ CETH shed $6.93 million.
By the end of the day, the cumulative net inflows for the nine ether funds climbed to $1.41 billion since July 23. With $992.49 million traded on Friday, the funds now hold $13.36 billion in ether reserves, representing 2.74% of ether’s total market capitalization. The consistent inflows into both bitcoin and ether ETFs reflect a growing investor confidence.
With leading funds like Blackrock and Fidelity commanding significant inflows, institutional interest appears unwavering, signaling a maturing market. These developments underscore the increasing acceptance of cryptocurrencies in traditional portfolios, further solidifying their role in modern finance. As 2024 draws to a close, the robust inflows highlight the enduring appeal of cryptocurrency ETFs amid evolving market dynamics.
The data suggests a steady institutional appetite, particularly for bitcoin and ether reserves. This trend not only strengthens the foothold of these funds but also positions them as pivotal vehicles for bridging the gap between traditional finance and the digital asset ecosystem.
