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As the Crypto Market Rises, Activity Begins in Bitcoin and Ethereum Markets! Here Are the Details
Source: CryptoNewsNet Original Title: As the Crypto Market Rises, Activity Begins in Bitcoin and Ethereum Markets! Here Are the Details Original Link: According to SoSoValue data, Bitcoin spot ETFs experienced strong fund inflows. Total daily net inflows were recorded at $697 million, with BlackRock’s IBIT ETF, the market leader, accounting for a significant portion of this figure.
IBIT saw a net inflow of $372 million in a single day, bringing the fund’s historical total net inflow to $62.75 billion. This further solidified BlackRock’s dominant position in the Bitcoin spot ETF market.
On the same day, Fidelity’s FBTC ETF also delivered a remarkable performance, recording a net inflow of $191 million. According to the data, the total net asset value of Bitcoin spot ETFs rose to $123.52 billion.
This amount represents approximately 6.57% of Bitcoin’s total market capitalization. Analysts point out that this percentage is a significant indicator that institutional investor interest has become permanent.
On the other hand, Ethereum spot ETFs also continued their positive trend. A total net inflow of $168 million was recorded in Ethereum spot ETFs on the same day. BlackRock’s ETHA ETF led the way in this area as well. ETHA received $103 million in funding in a single day, bringing its historical total net inflow to $12.72 billion. Additionally, Grayscale ETH Mini Trust ETF recorded a net inflow of $22.34 million.
Ethereum spot ETFs have a total net asset value of $19.95 billion, which represents approximately 5.1% of Ethereum’s total market capitalization.
According to experts, these strong fund inflows seen in both Bitcoin and Ethereum spot ETFs indicate a renewed strengthening of institutional investors’ confidence in crypto assets.