Bitcoin and ether ETFs saw a massive surge in inflows on one of the biggest trading days in Bitcoin’s history.
On Monday, U.S. spot crypto exchange-traded funds (ETFs) attracted substantial investment as bitcoin (BTC), the world’s largest cryptocurrency by market cap, surged to a new high just under $90,000.
Ether (ETH) ETFs also saw record-breaking inflows, totaling $295.5 million, with BlackRock’s ETHA and Fidelity’s FETH each drawing in $100 million, according to data from Farside Investors.
Bitcoin ETFs collected an impressive $1.1 billion in net inflows, marking the second-largest day on record, as per SoSoValue data. The inflows coincided with BTC’s market cap hitting a record $1.78 trillion, surpassing silver and making it the eighth-largest asset worldwide by market cap. Most of the inflows, $765.5 million, were directed to the iShares Bitcoin Trust (IBIT), while Fidelity’s FBTC captured an additional $135.1 million.
“Assets in U.S. spot bitcoin ETFs are now up to $84 billion, reaching two-thirds of gold ETFs’ total. Surprisingly, they could surpass gold ETFs within a year, even though we initially estimated 3-4 years,” Bloomberg senior analyst Eric Balchunas shared on X.
It wasn’t just crypto ETFs that hit new milestones. MicroStrategy (MSTR), the public company holding the largest amount of BTC, saw its stock price hit an all-time high. Meanwhile, Coinbase (COIN), a major crypto exchange, reached $320 per share for the first time since November 2021.
“The Bitcoin Industrial Complex — including ETFs, MSTR, and COIN — saw $38 billion in trading volume today, setting lifetime records across the board. IBIT alone traded $4.5 billion, suggesting a strong week ahead for inflows. It was an extraordinary day that really deserves a name, like ‘Volmageddon,’” Balchunas added in a separate post.
As of the latest update, bitcoin is trading at $88,000, with ether around $3,400.
