Spot Bitcoin ETFs Attract $2.72 Billion in Weekly Inflows

The United States spot Bitcoin exchange-traded funds (EFTs) have attracted approximately $2.72 billion, marking five consecutive weeks of net inflows. The digital product assets have seen remarkable moves with little or no outflows recorded.

According to data from financial research platform SoSoValue, BlackRock’s IBIT led the way with $953.52 million gains, followed by Ark 21 ARKB. This digital asset product saw $23.51 million in total inflows, increasing its net asset.

Grayscale’s GBTC Leads the Way

Furthermore, Grayscale’s GBTC recorded a decent inflow of approximately $20.93 million, putting the product in third place. Meanwhile, VanEck’s HODL came next, with an inflow of $20.01 million.

Additionally, Bitwise’s BITB and Invesco’s BTCO saw the lowest inflows. They attracted $6.93 million and $5.30 million, respectively. This surge comes as BTC earlier reached several new all-time highs (ATH). At the time of publication, the leading asset trades at over $121,800, as crypto enthusiasts project potential prices for the crypto asset.

Interestingly, the U.S. spot Bitcoin ETFs have reached a new peak of over $150.60 billion in total net asset value, the highest level since the funds launched. Last week, the crypto asset products saw $80 million in weekly net inflows, with BlackRock’s IBIT leading the way with over $66.8 million, thereby increasing its net assets.

Ethereum Spot ETFs Extend Inflow Streak

Like spot Bitcoin ETFs, Ethereum ETFs also saw favourable weekly inflows. The crypto asset products recorded net inflows of $908 million, with all nine ETFs reporting no outflows, continuing nine straight weeks of net inflows.

BlackRock’s ETHA came first, leading with an inflow of $137.8 million, followed by Grayscale’s ETH and ETHE, which recorded $25.51 million and $9.96 million, respectively.

Other digital products did not relent in their performances as Fidelity’s FETH secured its position with $11.99 million inflow. Notably, Bitwise’s ETHW recorded $8.60 million inflow.

Meanwhile, in recent times, ETH has also seen an upward movement, surpassing the $3,000 price level. The surge plays a critical role in the asset’s exposure, leading to an increasing number of institutional adoptions. Like BTC, prominent firms are acquiring ETH.

VanEck’s ETHV and 21 Shares CETH attracted the lowest inflows as they recorded $6.59 million and $5.09 million, respectively. Spot Ethereum ETFs in the U.S. have seen more than $15 billion in net assets.

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