According to data analyzed by Lookonchain, Bitcoin exchange-traded funds (ETFs) are seeing a solid inflow of assets, reflecting increasing institutional interest. As of November 12, ten Bitcoin ETFs experienced a net inflow of 12,870 BTC, amounting to approximately $1.12 billion. This trend highlights a growing demand for Bitcoin exposure through regulated investment vehicles, especially as more institutional investors seek safe and compliant ways to invest in the cryptocurrency.
Nov 12 Update:10 #Bitcoin ETFsNetFlow: +12,870 $BTC(+$1.12B)#Blackrock inflows 8,691 $BTC($753.05M) and currently holds 458,656 $BTC($39.74B).9 #Ethereum ETFsNetFlow: +70,980 $ETH(+$231.89M)#Fidelity inflows 34,500 $ETH($112.17M) and currently holds 222,750… pic.twitter.com/Tya9HnG6g3
— Lookonchain (@lookonchain) November 12, 2024
BlackRock’s iShares Bitcoin Trust (IBIT) leads the inflows, which received 8,691 BTC, valued at around $753.05 million, in the past 24 hours. IBIT now holds a total of 458,656 BTC, representing $39.74 billion in assets under management (AUM). The significant inflow into BlackRock’s Bitcoin ETF underscores the asset manager’s strong positioning in the cryptocurrency market and the trust it commands among investors.
Other prominent Bitcoin ETFs also saw positive inflows. Fidelity’s Wise Origin Bitcoin Fund (FBTC) added 1,551 BTC, valued at approximately $134.52 million, increasing its total holdings to 192,156 BTC. ARK’s 21Shares Bitcoin ETF (ARKB) and Bitwise’s Bitcoin ETF (BITB) each saw notable inflows, reflecting sustained interest across different Bitcoin ETFs.
Ethereum ETFs Record Substantial Net Inflow of $231.89 Million
In parallel with Bitcoin, Ethereum ETFs are also experiencing notable inflows. As of November 12, nine Ethereum ETFs recorded a combined net inflow of 70,980 ETH, valued at approximately $231.89 million. This increase in Ethereum holdings across ETFs indicates a strengthening interest in the second-largest cryptocurrency as investors diversify their portfolios beyond Bitcoin.
Fidelity’s Ethereum Trust (FETH) led the inflows, adding 34,500 ETH, worth about $112.17 million, bringing its total holdings to 222,750 ETH, valued at approximately $727.72 million. This increase highlights Fidelity’s growing role in the Ethereum market, with institutional clients likely seeing the trust as a secure and efficient way to gain exposure to Ethereum.
Another key player in the Ethereum ETF space is BlackRock’s iShares Ethereum Trust (IBETH), which received 30,293 ETH over the past 24 hours. IBETH now holds 529,549 ETH, with a total value of $1.69 billion. BlackRock’s participation in Bitcoin and Ethereum ETFs emphasizes its leading role in providing cryptocurrency investment options to institutional investors.
Growing Institutional Interest in Crypto ETFs
The recent inflows in Bitcoin and Ethereum ETFs underscore a growing institutional interest in cryptocurrencies through traditional financial products. With regulated ETFs, institutions can invest in Bitcoin and Ethereum without facing the complexities and risks associated with direct cryptocurrency custody. This trend may signal a long-term shift in how institutions approach digital assets, as ETFs provide a convenient bridge between traditional finance and the crypto market.
BlackRock and Fidelity’s strong inflows in Bitcoin and Ethereum ETFs reflect confidence in their long-term value. These firms, renowned for their robust asset management capabilities, are increasingly becoming key players in the cryptocurrency sector, contributing to legitimizing and adopting digital assets within mainstream finance.
The net inflows into Bitcoin and Ethereum ETFs point to a healthy appetite among institutional investors for cryptocurrency exposure. As BlackRock, Fidelity, and other asset managers expand their offerings in this space, the adoption of crypto ETFs is likely to grow, potentially driving further inflows and increased market stability.
