Spot Bitcoin and Ethereum exchange-traded funds (ETFs) have seen significant inflows for two consecutive weeks. These increased inflows occurred during a period when Bitcoin maintained price levels around $100,000.$BTC
Spot Bitcoin ETFs saw net inflows of $275 million on Wednesday, marking the 15th consecutive day of net inflows. BlackRock’s IBIT ETF drew attention with net inflows of $360 million, according to Sosovalue data, while spot Ethereum ETFs also showed increasing investor interest. Ethereum ETFs saw net inflows of $2.45 million on Wednesday, continuing their 18th day of positive performance.
Other notable figures include BlackRock’s ETHA ETF receiving $81.9 million in net inflows, further cementing Ethereum’s appeal as the second-largest cryptocurrency. Furthermore, notable investment products such as Grayscale ETH and Fidelity’s FETH fund are also reinforcing Ethereum’s strong position in the crypto market.$ETH
However, despite strong inflows recorded by spot Bitcoin and Ethereum ETFs, the crypto market lost value on Wednesday. Bitcoin price briefly dropped below $100,000, while the total value of the crypto market fell 3.36% in the past 24 hours to $3.35 trillion.
Still, Bitcoin quickly recovered and was trading at $102,187 on Thursday.
These inflows into spot Bitcoin and Ethereum ETFs show that long-term investment confidence in cryptocurrencies is increasing. While major players such as BlackRock, Grayscale and Fidelity continue to lead in terms of capital attracted, it is noteworthy that institutional investors are more involved in the market.
These inflows into spot ETFs also reflect the wider acceptance of digital assets as financial products, with access to digital assets becoming increasingly accessible for both individual and institutional investors.
