Key Insights:
- BlackRock’s IBIT contributed to $1 billion weekly Bitcoin ETF inflows and extending a 9 day inflow streak.
- Crypto ETFs are seeing renewed institutional demand with Ether ETFs and XRP ETFs gaining momentum.
- BlackRock said Bitcoin’s appeal is growing due to key macroeconomic risks, including geopolitical uncertainty, inflation pressures.
The crypto ETF space is heating up once again with strong demand for crypto investment products. Inflows into spot Bitcoin ETFs have surged to $1 billion over the past week, the highest since January. Similarly, other products like Ether ETFs and XRP ETFs are seeing consistent inflows.
US Crypto ETFs See $313 Million Inflows Led By BTC, ETH
On Monday, April 20, U.S. spot crypto ETFs recorded total net inflows of approximately $313.77 million. It is a sign of rising institutional participation in crypto products.
Bitcoin ETFs led the flows with 3,118 BTC purchased, valued at $238.37 million. BlackRock accounted for a significant share, acquiring 3,350 BTC worth $283.99 million through its ETF products, as per the data from Farside Investors.
Ethereum ETFs followed with inflows of 29,070 ETH, totaling $67.77 million. Meanwhile, XRP ETFs recorded $3 million in inflows, and Solana ETFs added $3.28 million. Smaller inflows were also observed in Hedera ETFs, which attracted $1.35 million, reported analyst Crypto Patel.
Other crypto ETF products, including Litecoin, Dogecoin, Avalanche, Chainlink, and Polkadot, reported no net flows during the session. The broad based inflows highlight sustained institutional participation across leading crypto assets.
BlackRock Leads Spot Bitcoin ETF Flows
Over the past week, inflows into spot Bitcoin ETFs reached $1 billion, with BlackRock’s iShares Bitcoin Trust (IBIT) leading the show.
BlackRock continued to see strong demand for IBIT, with net inflows of 3,355 Bitcoin valued at approximately $256.05 million. The ETF also recorded $1.6 billion in trading volume on April 20, highlighting sustained market activity.
The latest inflows extend IBIT’s streak to nine consecutive days. BlackRock said Bitcoin continues to show resilience as it is increasingly viewed as a hedge rather than a short term trading asset.
The firm noted that Bitcoin’s appeal is growing due to key macroeconomic risks, including geopolitical uncertainty, inflation pressures, and rising global debt levels.
Crypto ETFs: Ether ETFs and XRP ETFs See Some Momentum
On April 20, the spot Ether ETFs in the US saw inflows to the tune of $67 million. BlackRock’s spot Ethereum ETF, ETHA, saw net inflows of 32,617 ETH, valued at approximately $76.05 million. The fund also recorded $500 million in daily trading volume.
Meanwhile, BlackRock’s staked Ethereum ETF, ETHB, attracted inflows of 5,658 ETH, worth about $13.19 million. The fund’s total holdings have now reached 240,761 ETH.
On the other hand, GraniteShares has filed with the US SEC to launch 3x leveraged long and short ETFs tied to XRP. The products are expected to debut on Nasdaq as early as April 23. This will increase the scope of institutional exposure to XRP investment products.
The filing follows strong inflows into spot XRP ETFs, which have attracted approximately $1.24 billion, highlighting growing institutional interest in the asset.
Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fiction novels and sometimes explores his culinary skills.
