Bitcoin Spot ETFs saw a remarkable comeback at the beginning of the week after a relatively quiet period. The US market witnessed an impressive net inflow of $555.8 million on Monday, marking the highest capital collection since last June.
Leading Actors at the Forefront of the Flows
Fidelity, through its FBTC fund, played a major role in this resurgence, attracting more than $239 million alone. Another key player, Bitwise, also benefited from this trend, with its BITB fund netting $100 million.
BlackRock, with its IBIT fund, continues to consolidate its position as the leader in terms of assets under management, with an inflow of nearly $80 million on the same day.
Investments Supported by a Favorable Market Environment
This surge in activity comes at a time when the prices of major cryptocurrencies are on the rise. Bitcoin, which saw its price increase by over 2% in the last 24 hours to reach $66,000, seems to be attracting new capital seeking to capitalize on these increases. Similarly, Ethereum, which rose 3% to trade at $2,613, is also benefiting from this bullish momentum, although ETH ETFs show lower figures.
Bitcoin Spot ETFs witnessed soaring trading volumes, surpassing $2.61 billion on Monday, a level not seen since late August. Among these transactions, BlackRock dominated with over $1.67 billion traded through its IBIT fund, representing a significant portion of ETF market activity.
A Growing Adoption of Bitcoin ETFs
Since their launch, Bitcoin ETFs in the United States have accumulated more than $19 billion in net inflows. Such growth in less than a year reflects growing institutional adoption, far surpassing the initial expectations of market observers. Nate Geraci, president of ETF Store, described this performance as “phenomenal“, adding that these results are far beyond what was predicted before the launch of these funds.
Ethereum ETFs Also Progressing
In parallel, Ethereum ETFs also recorded net inflows, although in more modest proportions. US ETH funds saw a $17 million net inflow. BlackRock stands out once again with its ETHA fund capturing $14.3 million, closely followed by Fidelity and Invesco, whose products also showed positive results.
However, these flows are not yet enough to reverse the overall trend of Ethereum ETFs, which still have a negative balance since their launch with cumulative outflows reaching $541 million. Ethereum still seems far from capturing the enthusiasm observed for its Bitcoin counterpart.
