Bitcoin ETFs posted a $1.81 billion net inflow for the week ending May 2, marking their 3rd consecutive week in the green. Ether ETFs also saw another week of gains, pulling in $106.75 million and extending their rebound.
Weekly ETF Recap: 3rd Straight Week of Gains as Bitcoin ETFs Attract $1.81 Billion
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Bitcoin ETFs Keep Winning Streak Alive As Ether ETFs Follow with $106 Million
The streak continues for crypto ETFs. Bitcoin ETFs closed their 3rd consecutive week of inflows, attracting a massive $1.81 billion between April 28 and May 2, even with a midweek hiccup.
The bulk of that came from Blackrock’s IBIT, which once again ran away with the week, pulling in a staggering $2.48 billion on its own. Friday, May 2, delivered the strongest single-day net inflow of the week at $674.91 million, while Wednesday marked the only day of net outflows.
Despite several major ETFs seeing red for the week: Ark 21shares’ ARKB (-$457.64 million), Fidelity’s FBTC (-$201.09 million), Grayscale’s GBTC (-$58.61 million), and Bitwise’s BITB (-$30.15 million), the sheer scale of IBIT’s haul kept the overall picture firmly bullish along with modest contributions from Grayscale’s Mini BTC Trust with $41.92 million, Vaneck’s HODL with $19.19 million, and Invesco’s BTCO with $10.61 million.
Ether ETFs also turned in a solid second week of recovery with $106.75 million in net inflows. Blackrock’s ETHA led the way with $87.57 million, followed by Fidelity’s FETH at $37.79 million, and Grayscale’s Mini ETH Trust at $11.98 million. On the downside, Grayscale’s ETHE and Bitwise’s ETHW saw outflows of $26.21 million and $4.37 million, respectively.
In both camps, Blackrock’s role as market engine is clear. The spotlight isn’t just on the crypto, it’s on who’s capturing the capital.
About the author
WRITTEN BYEmmanuel Musa
Emmanuel Musa is a financial journalist and crypto analyst based in Africa.
