Bitcoin exchange-traded funds (ETFs) in the U.S. have witnessed unprecedented momentum, with strong cash inflows continuing for the sixth consecutive week, coinciding with Bitcoin's price approaching the $120,000 mark.
This performance reflects increasing investor confidence in institutional investment vehicles associated with cryptocurrencies, especially Bitcoin ETFs.
Record Weekly Inflows and Significant Asset Expansion According to SoSoValue data, the 12 Bitcoin ETFs achieved net inflows of $2.39 billion during the past week alone. These inflows raise the total amount attracted by the funds over six consecutive weeks to $10.5 billion, signaling a clear continuation of institutional enthusiasm towards digital assets, specifically Bitcoin ETFs.
Since their launch, these funds have accumulated total inflows of $54.75 billion, increasing the total asset value held to about $152.4 billion in Bitcoin, representing approximately 6.5% of Bitcoin's total market capitalization globally, a percentage that is steadily rising as market confidence grows.
The BlackRock IBIT fund captured the largest share of net inflows during the week, attracting $2.57 billion on its own. It was followed by Grayscale's BTC fund with inflows of $41.9 million, and VanEck's HODL fund, which recorded $31 million.
In contrast, other funds like Bitwise’s BITB, Invesco’s BTCO, Franklin Templeton’s EZBC, and WisdomTree’s BTCW recorded total inflows of $35 million, despite some outflows from other funds, notably Grayscale's GBTC, ARK 21Shares' ARKB fund, and Fidelity's FBTC, which collectively saw outflows amounting to $290.8 million.
Ethereum Funds Achieve Best Weekly Performance Ever Alongside the strong rise in Bitcoin ETFs, the nine Ethereum funds experienced a record jump with net inflows of $2.18 billion during the week, a massive increase of 140% compared to the previous week. This represents their strongest inflow week since inception, raising the number of consecutive weeks of positive inflows to ten, with a total investment attraction exceeding $5 billion.
The Market Shifts Towards Altcoins Despite Bitcoin Strength Despite the momentum in Bitcoin ETFs, analysts expect limited fluctuations in Bitcoin's price in the near term due to the shift in liquidity towards altcoins, particularly Ethereum, reflecting market maturation and the expansion of distribution strategies among different digital assets.
