Bitcoin and Ethereum ETF flows positive as BlackRock attracts most money

On 23 July, the US spot Bitcoin ETFs once again showed positive inflows. According to SoSoValue data, a total of $68.99 million flowed into the fund, while the spot Ethereum ETFs performed even slightly better with $72.64 million in net inflows. In both cases, BlackRock steals the show.

Bitcoin is available at OKX and Bybit.

BlackRock dominates the Bitcoin ETF market

Of the total inflow of $68.99 million into the Bitcoin ETFs, $38.78 million came from BlackRock’s IBIT. This makes IBIT by far the most popular among investors. That is not surprising, as BlackRock is the world’s largest asset manager and also manages the largest US spot Bitcoin ETF by total assets under management.

The Bitcoin price stands at $65.700 at the time of writing, a slight decline of 0.3% over the past 24 hours. The total net assets of all US spot Bitcoin ETFs combined amount to $80.36 billion. The positive inflows follow a series of multiple positive days and show that institutional interest in Bitcoin ETFs remains strong.

Ethereum ETFs surpass Bitcoin in daily inflows

The Ethereum ETFs performed even slightly stronger on 23 July than their Bitcoin counterpart. Total net inflows came to $72.64 million, with BlackRock’s ETHA recording the largest single-day inflow of no less than $53.47 million. That is a remarkably large share of the total Ethereum ETF inflow on that day.

The strong inflows into the Ethereum ETFs indicate that institutional investors are increasingly interested in gaining exposure to Ethereum through regulated products. BlackRock also appears to be the preferred choice here for large investors who want to enter the crypto market via ETFs. The figures come from SoSoValue.