The US-based Spot Bitcoin ETF saw a dramatic increase in investor activity as the top crypto prices hit a new high of over $118,000 for at least $1.
According to Sosovalue data, 12 funds saw a cumulative inflow of $1.2 billion. This year’s second-highest daily performance since its release in 2024, is the best. Since mid-April, the fund has raised more than $15 billion in fresh capital.
BlackRock’s IBIT led the day with an inflow of $448.5 million and trading volumes above $5 billion, with a normal daily average of double.
IBIT is currently shy of $80 billion under $10 billion control, with over 700,000 Bitcoin. In the context, the largest gold ETF, SPDR Gold Shares (GLD), has reached a similar level for over 15 years.
Meanwhile, other Bitcoin ETF publishers, like Fidelity’s FBTC, also recorded strong performances on the day, recording an influx of $324.34 million.
The surge in Bitcoin ETF activity appears to be a clear indication of institutional interest spurred by wider market gatherings.
Bloomberg ETF analyst Eric Balknass stresses that the inflow of new funds into these ETFs is a significant achievement, noting that while market valuations can boost assets, attracting new investors should convince them to buy.
He explained:
“The assets can increase from the market valuation alone, but net flow is like net sales and we need to convince people to buy ETFs. Today they are over $40 billion, and by thanking the market, they are now around $120 billion.
With this in mind, Balchunas predicts that Bitcoin ETFs could surpass their assets’ gold funds in the next three to five years.
Ethereum etfs
The Ethereum ETF also performed strongly that day, with nine US spot Ethereum funds garnering more than $383 million inflows. According to SOSO Value Data, this is the second-best performance since it launched last year.
BlackRock’s Ishares Ethereum Trust (ETHA) was at the heart of this momentum. The fund has led to a total inflow of over $300 million, bringing its volume to over $800 million for two consecutive days.
Meanwhile, other publishers such as Grayscale, Fidelity, Bitwise, and Vaneck all saw an inflow of $38 million, $37.2 million, $3.2 million and $2 million respectively.
Nate Geraci, president of Novadius Wealth, pointed out:
“Financial advisors who manage a huge amount of (dollars) are not beginning to be allocated to BTC & ETH ETFs. Major platforms like Vanguard are still gatekeeping these ETFs (this is a laughable IMO).