On July 10, Bitcoin spot exchange-traded funds (ETFs) recorded impressive daily inflows of $1.18 billion, marking the second-highest inflow level to date, according to data from Sosovalue.
This surge in institutional investment facilitated a rise in Bitcoin’s price, which reached a new all-time high of $116,664 on Thursday. At the time of this report, Bitcoin is trading at $118,140, having briefly crossed the $118,450 mark.
Moreover, the total net inflows for Bitcoin spot ETFs have now surpassed $51 billion, indicating a robust and sustained interest from investors.
Among the 12 Bitcoin funds tracked, seven reported net inflows on Thursday. BlackRock’s IBIT led the pack with $448.49 million, while Fidelity’s Bitcoin fund (FBTC) followed closely, attracting $324.34 million in inflows.
Ethereum Spot ETFs See $383M Total Net Inflows, Signals Strong Conviction
In parallel, Ethereum spot ETFs achieved total net inflows of $383 million, the second-highest on record, contributing to a cumulative total of $5.10 billion in inflows for Ether ETFs to date.
The demand for ETFs has had a positive impact on Ether, which has registered an 8% increase, pushing its price beyond the $3,000 threshold. Rachael Lucas, a crypto analyst at BTC Markets, remarked on Ether’s performance, indicating it has demonstrated greater strength than Bitcoin this week, thanks to fresh institutional investments and the record volumes seen with BlackRock’s ETH ETF. At the time of writing, Ether is trading at $3,014.
On July 10, the Ether spot ETFs experienced net inflows of $300.93 million, primarily driven by the interest in BlackShares iShares Ethereum Trust (ETHA) and Grayscale’s ETHE fund.
Additionally, ETHA has attracted significant investor attention, amassing over $1.2 billion since June, which reflects a bullish sentiment in the market.
Lucas emphasized the current trend, stating it signifies a pivotal moment in institutional engagement with both Bitcoin and Ethereum. “What we’re witnessing is not merely a retail-driven frenzy, but a consistent influx of capital from asset managers, corporate treasuries, and wealth platforms entering the market. The steady rise of inflows over the past weeks underscores this trend,” she noted.
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