Bitcoin and Ethereum ETFs see strong inflows

Institutional interest in cryptocurrency is climbing, as evidenced by substantial inflows into Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) ETFs on November 14, 2024.

Data from Lookonchain shows Bitcoin ETFs experienced a net inflow of 5,064 BTC, equivalent to $446.3 million.

Ethereum ETFs recorded net inflows of 42,832 ETH, valued at approximately $131.45 million, reflecting strong demand.

Among Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust leads with an addition of 2,548 BTC, valued at $224.6 million.

BlackRock holds a total of 469,895 BTC, worth $41.41 billion, solidifying its position as the largest Bitcoin ETF holder.

Fidelity Wise Origin Bitcoin Fund reported an inflow of 2,053 BTC in the past 24 hours, contributing to a 7-day net inflow of 6,947 BTC.

Other Bitcoin ETFs, including ARK 21Shares and Bitwise’s funds, also saw positive inflows, highlighting broad market interest.

Smaller funds like those from Vaneck, Valkyrie, and Franklin attracted modest inflows, showing that BlackRock and Fidelity remain dominant.

Ethereum ETFs also drew significant inflows, with Fidelity’s Ethereum Fund adding 32,000 ETH, valued at $98.21 million.

Fidelity now holds 254,750 ETH, worth approximately $781.83 million, making it a top player in Ethereum ETFs.

Grayscale’s Ethereum Trust, the largest Ethereum ETF with 1,555,861 ETH, saw a reduction of 10,843 ETH over the past week.

However, Grayscale’s Ethereum Mini Trust reported a positive inflow of 3,863 ETH, indicating mixed activity across its offerings.

Other Ethereum ETFs, including BlackRock’s and Bitwise’s, recorded smaller inflows, underlining consistent institutional interest.

These inflows underscore growing institutional preference for regulated crypto investment vehicles, signaling stronger integration of crypto into traditional portfolios.

BlackRock and Fidelity’s dominance highlights the influence of major financial institutions in shaping cryptocurrency markets.

The sustained inflows into Bitcoin and Ethereum ETFs could enhance market stability and reduce volatility, encouraging broader adoption.

Institutional participation through ETFs is making cryptocurrency investments more accessible and safer for traditional investors.

As this trend continues, it marks a shift toward greater acceptance of crypto within traditional financial systems, signaling a maturing market.