BlackRock attracts $338 million to Bitcoin ETFs in one day

The US spot Bitcoin ETFs recorded combined net inflows of $338 million on 24 August, with BlackRock’s IBIT fund responsible for the lion’s share. Spot Ethereum ETFs also performed well, with $116 million in inflows. Bitcoin itself is now trading around $80K, up 3.8% in the past 24 hours.

In brief:

• BlackRock’s IBIT attracted $209 million on 24 August, the largest share of the total $338 million in Bitcoin ETF inflows.
• Spot Ethereum ETFs received $116 million, of which $90.92 million came through BlackRock’s ETHA fund.
• BlackRock manages approximately $15.3 trillion in assets worldwide and led inflows in both crypto ETF categories.

BlackRock dominates inflows into Bitcoin and Ethereum ETFs

Of the total daily inflow of $338 million into US spot Bitcoin ETFs, $209 million came from BlackRock’s IBIT. The world’s largest asset manager once again set the tone in the crypto ETF market.

BlackRock also dominated on the Ethereum side. The ETHA fund attracted $90.92 million of the total $116 million that spot Ethereum ETFs received on the same day. BlackRock manages approximately $15.3 trillion in assets worldwide.

Bitcoin price climbs on ETF inflows

The strong ETF inflows coincide with a price rise in Bitcoin. The previously reported resistance level at $79.300 now appears to have been breached, as Bitcoin is trading around $80K, up 3.8% in 24 hours.

The recent inflows are part of a broader trend. Earlier this month, Bitcoin ETFs raised $1.92 billion in a single week, indicating that institutional interest in regulated crypto products continues.

Institutional interest remains the driving force

BlackRock’s dominance in both ETF categories reflects the broader shift in which large asset managers are taking an increasingly central role in the crypto market. With $15.3 trillion in assets under management, the company has the resources and distribution networks to move large capital flows.

Whether inflows will continue at this level depends, among other things, on the further price trajectory of Bitcoin and Ethereum and on broader macroeconomic conditions.