Big BTC ETF inflows
- Bitcoin exchange‑traded funds recorded almost $1 billion in net inflows last week. - Total BTC ETF net inflows were $996 million, led by BlackRock’s IBIT with $906 million. - Ethereum ETFs also saw flows (+$276M), and prices were above $77K for BTC and $2.4K for ETH in social market posts (x.com).
U.S. spot Bitcoin exchange-traded funds pulled in $996.4 million last week, their biggest weekly haul since mid-January. (bitcoinmagazine.com) The gains were concentrated in BlackRock’s iShares Bitcoin Trust, ticker IBIT, which accounted for $906 million of the week’s net inflows, according to data cited from SoSoValue. The buying stretched a three-week streak for U.S. spot Bitcoin funds to more than $1.8 billion. (thecoinomist.com) Spot Ethereum funds also added money. They took in about $275.8 million in the April 13-17 trading week, with Fidelity’s FETH leading at roughly $126 million and BlackRock’s ETHA adding about $99.2 million. (bingx.com) A spot crypto exchange-traded fund is a stock-market wrapper that holds the asset itself, letting investors buy Bitcoin or Ether through a brokerage account instead of using a crypto exchange. The U.S. Securities and Exchange Commission approved the first spot Bitcoin exchange-traded products on January 10, 2024. (sec.gov) The latest surge came as global digital-asset investment products brought in $1.4 billion for the week ended April 17, according to CoinShares. Bitcoin accounted for $1.11 billion of that total, while Ethereum brought in $320 million across global products. (theblock.co) Price action and fund flows moved together. Bitcoin traded above $76,000 during the rebound cited by CoinShares, and market posts circulated over the weekend showing Bitcoin above $77,000 and Ether above $2,400. (theblock.co) (x.com) BlackRock remains the biggest name in the category. Its product page says the iShares Bitcoin Trust seeks to track the price of Bitcoin, and outside trackers put IBIT’s holdings near 799,151 Bitcoin as of April 17. (blackrock.com) (bitbo.io) The inflow streak also arrived days after Morgan Stanley launched MSBT, described by several crypto outlets as the first U.S. bank-issued spot Bitcoin exchange-traded fund. SoSoValue data cited by The Coinomist showed MSBT took in $71 million in its first full trading week. (bitcoinmagazine.com) (thecoinomist.com) For now, the clearest signal is where the money went: nearly $1 billion into U.S. spot Bitcoin funds in five trading days, with IBIT taking most of it. Ethereum funds joined the move, but Bitcoin remained the main draw. (bitcoinmagazine.com) (bingx.com)
