Bitcoin ETFs record biggest weekly inflow since April: $854M

U.S. spot bitcoin ETFs recorded $853.54 million in inflows over five sessions, their largest weekly gain since April 17, led by BlackRock’s IBIT.

U.S. spot bitcoin ETFs drew $853.54 million across five trading sessions this week, marking their largest weekly inflow since April 17. BlackRock’s IBIT supplied $693.5 million of the total.

Daily inflows were $170.09 million on Monday, $211.49 million on Tuesday, $244.42 million on Wednesday, $128.69 million on Thursday and $98.85 million on Friday. Fidelity’s FBTC recorded $116.5 million in new money, ARK 21Shares’ ARKB took in $50.8 million, Bitwise’s BITB added $25.9 million and Morgan Stanley’s MSBT received $21.4 million. Grayscale’s GBTC and the Bitcoin Mini Trust logged $7.5 million and $6.8 million in inflows, respectively.

Not all funds gained. Vaneck’s HODL saw $53.6 million leave and Invesco’s BTCO recorded a $12.7 million withdrawal. The prior week saw net outflows of $61.53 million, ending a three-week streak of net purchases.

Ether ETFs added about $245 million for the week. After an $11.42 million outflow on Monday, flows were $53.75 million on Tuesday, $60.86 million on Wednesday, $92.15 million on Thursday and $49.60 million on Friday. BlackRock’s ether products collected roughly $212 million, about 87% of the category’s inflows.

Smaller crypto ETF segments posted modest results. XRP products finished the week with about $1 million in net inflows after volatile daily swings. Solana ETFs ended up $144,930 for the week, aided by a roughly $1 million inflow on Tuesday that offset a larger withdrawal later in the week. HYPE funds reversed three consecutive weeks of outflows and recorded $2.84 million in net new money.

Federal Reserve Governor Lisa Cook described inflation as “too high,” citing a 3.7% year-over-year rise in the PCE price index through June, and indicated she would support higher rates if inflation does not ease. On Friday, Bureau of Labor Statistics data showed payrolls fell by 23,000 in July while the unemployment rate held at 4.1%.

Commentary from ETF desks during the week noted renewed institutional buying of crypto exposure and pointed to BlackRock’s products as the primary recipients of that demand.

The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.

Articles by this author