Big ETF inflows for BTC & ETH
U.S. spot Bitcoin and ether ETFs saw strong single‑day buying, with reports of roughly $358m into Bitcoin ETFs and about $85m into ether ETFs led by BlackRock products. One note said BlackRock’s IBIT accounted for about $269m of the Bitcoin inflows, while BlackRock’s ETHA drove most of the ether demand with daily net inflows north of $50m. (tekedia.com / panewslab.com)
U.S. spot crypto funds pulled in fresh money again on April 9, with Bitcoin exchange-traded funds taking in $358.1 million and ether funds adding $85.2 million. (farside.co.uk 1) (farside.co.uk 2) BlackRock’s iShares Bitcoin Trust, ticker IBIT, led the Bitcoin buying with $269.3 million of the day’s inflows. Fidelity’s FBTC added $53.3 million, and Bitwise’s BITB brought in $11.7 million. (farside.co.uk) On the ether side, BlackRock’s ETHA drew $90.9 million on April 9, while Fidelity’s FETH lost $21.0 million and Grayscale’s ETH product added $9.7 million. The full group still finished the day with a net $85.2 million inflow. (farside.co.uk) A spot exchange-traded fund is a stock-market wrapper that holds the asset itself, letting investors buy Bitcoin or ether in a brokerage account instead of through a crypto wallet. The U.S. Securities and Exchange Commission approved spot Bitcoin exchange-traded products in January 2024 and approved rule changes for spot ether products in May 2024. (sec.gov 1) (sec.gov 2) The April 9 buying extended a stronger week for both categories. Bitcoin funds had already taken in $471.4 million on April 6 before outflows on April 7 and April 8, while ether funds added $120.2 million on April 6 before two negative sessions. (farside.co.uk 1) (farside.co.uk 2) BlackRock’s products have become the biggest magnets for new money in both markets. Farside’s running totals show cumulative net inflows of $63.7 billion for IBIT and $11.7 billion for ETHA through April 10. (farside.co.uk) (farside.co.uk) Not every issuer shared in the rebound. Grayscale’s legacy Bitcoin trust, GBTC, shows cumulative net outflows of $26.1 billion, and Grayscale’s ETHE shows cumulative net outflows of $5.2 billion, even after newer lower-fee products entered the market. (farside.co.uk) (farside.co.uk) The next day’s data showed the pace cooling but staying positive. On April 10, Bitcoin funds added another $240.4 million and ether funds brought in $64.9 million, with IBIT and ETHA still leading their groups. (farside.co.uk) (farside.co.uk)
