Two straight billion-dollar inflow days bring spot Bitcoin ETFs to $158 billion in total net assets
Quick Take
- U.S. spot Bitcoin ETFs have reached a new peak of over $158 billion in total net asset value, the highest level since the funds began trading.
- The funds took in over $1 billion in inflows on Thursday and Friday each, the largest two-day stretch for inflows thus far, as BTC reached new highs.
- Spot Ethereum ETFs have taken in over $1 billion in inflows over the past six trading days, leading those funds to a new record high for cumulative total net inflows.
As the price of Bitcoin skyrocketed to new highs last week, U.S. spot Bitcoin ETFs reached a new high of over $158 billion of total net asset value.
Thursday and Friday saw the funds take in a combined $2.21 billion in inflows, with $1.18 billion on Thursday and $1.03 billion on Friday, according to SoSoValue data. The two-day stretch marked the highest inflow level over that period of time since the funds began trading in January of 2024.
BlackRock's industry-leading fund IBIT took in $953.5 million in inflows on Friday, about 95% of the total inflows on Friday; no other fund took in more than $25 million. IBIT recently became the fastest ETF to hit $80 billion in assets under management in history.
The inflows bolstered the funds to a new high in total net asset value: $158.03 billion, according to The Block's data. IBIT remains more than twice the size of the second-largest fund, Fidelity's FBTC, which has AUM of around $36.4 billion compared to IBIT's $80.0 billion.
"The shift reflects growing confidence in BTC as a regulated, long-term asset similar to gold," Vincent Liu, CIO of Kronos Research, recently told The Block. "Strong institutional demand may continue unless macro uncertainty around the July 15 CPI data sparks profit-taking and cools momentum."
Bitcoin's price reached its all-time high of around $118,500 on Friday, according to The Block's Bitcoin Price page, before retreating slightly to $117,400 on Saturday.
Ethereum ETFs set cumulative inflow record
Though spot Ethereum ETFs, which began trading just under one year ago, have yet to match the BTC funds in setting a new high for total net asset value, due to Ethereum's relatively weaker price performance, the funds did set a new record following their six-day inflow streak, with a new high of $5.31 billion in cumulative total net inflows, according to SoSoValue data.
The six-day streak has seen the funds take in around $1.057 billion in inflows. The total net asset level of the funds, at $13.5 billion, is still slightly lower than the record of $14.3 billion reached in mid-December of last year, the data show.
BlackRock likewise has the largest spot ETH ETF on the market; its ETHA fund has an AUM of $6.14 billion, over one billion dollars higher than the combined AUM of Grayscale's ETHE ($3.44 billion AUM) and ETH ($1.68 billion AUM) at $5.12 billion.
Total net flows denominated in ETH also hit a new high over the recent inflow streak, according to The Block's data. The price of Ethereum is down about 1.2% in the past 24 hours, according to The Block's Ethereum Price page.
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