Bitcoin ETFs see record $1.2B inflow as market hits all-time high in dollars

US-based spot Bitcoin ETFs saw a dramatic uptick in investor activity as the top crypto price reached a new all-time high of over $118,000, at least in dollars.

According to SoSoValue data, the 12 funds saw cumulative inflows of $1.2 billion, the second strongest daily performance since launch in 2024, and the best this year. Since mid-April, the funds have attracted more than $15 billion in fresh capital.

BlackRock’s IBIT led the day with $448.5 million inflows and over $5 billion in trading volume, twice its usual daily average.

IBIT is now just shy of $80 billion in assets under management and holds over 700,000 Bitcoin, a record high. For context, it took SPDR Gold Shares (GLD), the largest gold ETF, more than 15 years to reach a similar level.

Meanwhile, other Bitcoin ETF issuers like Fidelity’s FBTC also recorded strong performance on the day, with $324.34 million in inflows, while Ark 21Shares’ ARKB pulled in $268.7 million in fresh capital.

The surge in Bitcoin ETF activity appears to be a clear sign of institutional interest, spurred by the broader market rally.

Bloomberg’s ETF analyst, Eric Balchunas, emphasized that the influx of new funds into these ETFs is a significant accomplishment, pointing out that while market appreciation can boost assets, attracting new investors requires convincing them to buy.

He explained:

“Assets can increase just from market appreciation, but net flows are like net sales, you have to convince people to buy the ETF. Today, they’re over $40 billion, and with market appreciation, they’re now around $120 billion. That’s astonishing. Gold took over a decade to hit that number.”

Considering this, Balchunas predicts the Bitcoin ETFs could surpass gold funds in assets within the next 3 to 5 years.

Ethereum ETFs

Ethereum ETFs also performed strongly on the day, with the nine US spot Ethereum funds collectively attracting over $383 million in inflows. According to SoSo Value data, this is their second-best day performance since they launched last year.

BlackRock’s iShares Ethereum Trust (ETHA) was at the center of this momentum. The fund brought in more than $300 million of the total inflows and saw its volume climb to over $800 million for two consecutive days.

Meanwhile, other issuers like Grayscale, Fidelity, Bitwise, and VanEck all saw inflows of $38 million, $37.2 million, $3.2 million, and $2 million, respectively.

Nate Geraci, the president of NovaDius Wealth, pointed out:

“Financial advisors, who control enormous amount of [dollars], have barely even begun allocating to btc & eth ETFs… Major platforms such as Vanguard are still gatekeeping these ETFs (which is laughable IMO). And we’re still seeing near record inflows.”

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