BlackRock dominates inflow into Bitcoin and Ethereum ETFs

US spot Bitcoin ETFs attracted $232 million in new capital on 26 August. BlackRock’s IBIT accounted for the lion’s share with approximately $201 million. BlackRock was also the main driver among spot Ethereum ETFs: its ETHA fund brought in around $116 million of the total $192 million in inflows that day. Bitcoin currently stands at $79K, up 0.7% in the past 24 hours.

In brief:

• US spot Bitcoin ETFs recorded $232 million in inflows on 26 August, led by BlackRock’s IBIT with $201 million.
• Spot Ethereum ETFs attracted $192 million, of which $116 million went to BlackRock’s ETHA.
• BlackRock, the world’s largest asset manager, dominated inflows in both ETF categories simultaneously.

IBIT and ETHA dominate their respective categories

The fact that BlackRock leads inflows in both major US spot crypto ETF categories on the same day is remarkable. IBIT accounted for more than 86% of total Bitcoin ETF inflows on 26 August, while ETHA represented over 60% of Ethereum ETF inflows.

Earlier this month, Bitcoin and Ethereum ETFs recorded seven consecutive days of inflows, pointing to sustained interest from institutional investors in regulated crypto products.

Bitcoin approaches $80.000 again

Bitcoin’s price stands at $79K at the time of writing, a modest increase of 0.7% in 24 hours. The increasing ETF inflows coincide with a recovery in the market.

Earlier this week, it was noted that long-term holders are selling Bitcoin around $80.000, a level that thus serves as resistance. Whether the sustained institutional inflows are sufficient to break through that threshold remains to be seen in the coming days.