- BlackRock’s IBIT drove all $674.91M in BTC ETF inflows, raising its assets to $59.64B, over 50% of total sector value.
- Ethereum ETFs saw $20.10M in inflows from IBIT’s ETHA, with zero outflows reported across all ETH ETFs on May 2.
- BTC and ETH ETFs now hold $113.15B and $6.40B in assets, representing 5.87% and 2.87% of their respective market caps.
U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) could be set for a month of inflow streaks after building on their current investment influx on May 2. Ethereum (ETH) funds also posted a U-turn in outflows after recording a modest inflow in the last day. BlackRock’s IBIT stole the show as the only BTC ETF and ETH ETF to record inflows across both sectors.
IBIT Drives $674.91M Inflow into BTC ETFs Amid Market Recovery
As recorded by SoSoValue, BTC ETFs captured $674.91 million in net inflows in yesterday’s session, completing the strongest single-day performances in recent times. In the past two weeks, funds have amassed over $4 billion in net inflows. Market participants are slowly renewing interest in the market after it saw massive bleeding over the past three months.
Notably, BlackRock’s IBIT was the only fund to record a net inflow as the others posted zero net flows. IBIT alone shouldered the whole sector’s investment record with $674.91 million in flows, taking its asset figure to $59.64 billion. The fund’s dominant outing took its total cumulative net inflow to $48.68 billion and cemented its position as the apex BTC ETF.
Other ETFs, such as those offered by Fidelity (FBTC), Ark Invest (ARKB), and others, recorded no inflows or outflows for the day, remaining neutral. While Grayscale’s GBTC also followed the neutral trend in the last outing, it has bled in recent months. As of yesterday’s report, GBTC has a total cumulative outflow of $22.5 billion and net assets totaling $18.47 billion.
Following the strong trading session by BTC ETFs, the cumulative total net inflow into Bitcoin spot ETFs rose to $40.24 billion. In addition, the total net shares across all the Bitcoin funds are pegged at $113.15 billion. It is worth pointing out that IBIT holds over half of the entire sector’s total net assets. At the same time, the industry’s total net assets are pegged at $113.15 billion, reflecting 5.87% of BTC’s market cap.
BlackRock Drives $20M Inflow as Ethereum ETFs See Zero Outflows
ETH ETF also closed the day with a positive score after struggling in the past month. The funds ramped up $20.10 million in net inflows, as per SoSoValue. Notably, none of the nine Ethereum ETFs reported any outflows, meaning no money was pulled out by investors during the day. This positive movement suggests renewed confidence in Ethereum-focused investment products.
Like Bitcoin funds, inflows recorded by Ethereum ETFs were solely pulled by BlackRock’s ETHA, which led the day with a $20.10 million gain. All other ETFs showed no new investments or withdrawals, keeping their positions unchanged. Still, Grayscale’s ETHE total net flow stands at a negative figure of $4.03 billion. Despite its sizable asset base of $18.47 billion, GBTC has witnessed prolonged investor outflows over time.
As a result of yesterday’s outing, the sector’s cumulative total net inflow is $2.51 billion. It has also raked in $153 million in total value traded. Besides, the total net assets of ETFs in the sector have bumped to $6.40 billion, which is 2.87% of Ethereum’s market cap.
