Bitcoin and Ethereum ETFs Attract Over $1 Billion Amid Rising Crypto Interest
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Bitcoin and Ethereum exchange-traded funds (ETFs) saw a huge jump in investments on Thursday, pulling in more than $1 billion—marking the highest total in five months. BlackRock’s iShares Bitcoin Trust (IBIT) led the surge, gaining $877 million in one day. This strong flow of money shows that investors are becoming more confident in cryptocurrencies again.
With Bitcoin prices climbing and Ethereum also seeing gains, both ETFs are getting more attention. In total, Bitcoin funds attracted $935 million, while Ethereum ETFs received over $110 million in a single day.
Bitcoin ETFs See Huge Growth as Prices Hit Records
Bitcoin’s value has risen more than 48% since it fell below $75,000 in early April. Much of the rise happened as investors reacted positively to lower-than-expected inflation and a calmer global economy. Many people now see Bitcoin as a safe place to put their money during uncertain times. This growing belief has helped drive new investments into Bitcoin ETFs like IBIT.
IBIT alone has brought in more than $1.9 billion in just four days this week. This is the third time in a month that it has collected more than $1 billion in a week. It earned $2.4 billion in late April and about $1 billion in early May. Since its launch in January 2024, IBIT has gathered nearly $41 billion in total investments—four times more than its closest rival, Fidelity’s Bitcoin Trust. Bitcoin even broke a new price record this week, hitting $111,814.
Ethereum ETFs Gaining Support Despite Price Challenges
Ethereum ETFs also performed well, pulling in over $110 million on Thursday. The top funds were Grayscale’s ETHE and Fidelity’s FETH, each collecting more than $40 million. While Ethereum’s recent gains were slower than Bitcoin’s at first, it has now outpaced most other cryptocurrencies in the past month. Ethereum was recently priced at $2,565—down slightly from Thursday, but still up 46% in 30 days.
BlackRock’s Ethereum Trust (ETHA) has seen over $4.3 billion in total investments, more than double the next closest Ethereum ETF. All eight Ethereum ETFs currently trading have brought in more than $2.7 billion combined. However, Grayscale’s ETHE has seen $4.3 billion in withdrawals, partly because it changed from a closed-end fund with higher fees. According to experts, Ethereum ETFs are doing well in terms of cash inflows, even though their total value is being affected by Ethereum’s price changes.
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