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Ark Invest, BlackRock Dominate Thursday’s Bitcoin ETF Inflows

U.S. spot Bitcoin ETFs saw a hefty $365.57 million in net inflows Thursday, according to Sosolvalue data, marking the biggest surge since July. The green wave hit its sixth consecutive day as global markets shifted risk-on. Institutions seem to be piling into Bitcoin-backed funds, betting big on the rising prices and favorable conditions in the risk asset ecosystem.

Ark Invest and 21Shares’ ARKB led the charge with a strong $113.82 million inflow. BlackRock’s IBIT wasn’t far behind with $93.38 million, being the largest ETF by net assets, of course. Fidelity’s FBTC snagged $74 million in new cash, keeping pace with the majors as interest in spot Bitcoin ETFs continues to balloon. Other ETFs didn’t miss out either—Bitwise’s BITB pulled $50.38 million, VanEck’s HODL brought in $22.10 million, while smaller gains showed up in funds from Valkyrie, Invesco, Franklin Templeton, and Grayscale’s Bitcoin Mini Trust.

But it wasn’t all green. Grayscale’s GBTC was the lone laggard, dropping $7.73 million in net outflows, making it Thursday’s sole outflow among major players. Yet, that hiccup did little to dim the overall enthusiasm. Thursday’s total trade volume for the 12 funds soared to $2.43 billion, the largest in a month, adding fuel to the long-running crypto ETF rally.

Stimulus-Driven Surge Boosts Bitcoin, Ethereum ETFs Struggle

While Bitcoin ETFs are riding high, thanks to furious Chinese stimulus and record-breaking U.S. equities, Ethereum ETFs stumbled. Augustine Fan, Head of Insights at SOFA.org, connected the recent inflows to broader macro conditions. “It’s all the green light for global risk markets, as US equities hit all-time highs, driven by rapid-fire stimulus resuscitating China’s economy,” Fan said.

Bitcoin price shot up 2.9% in the past 24 hours, hitting $65,330.96, its highest level since July, while Ether barely kept pace with a 1.8% gain to $2,648. But Ether ETFs didn’t share in the Bitcoin euphoria. Grayscale’s ETHE saw a harsh $36 million outflow, while Fidelity’s FETH added $15.92 million, and BlackRock’s ETHA pulled in $14.85 million. Invesco’s QETH only saw $2 million flow in, and others had less than $1 million.

Ethereum ETFs collectively posted $257.40 million in trading volume on Thursday, doubling Wednesday’s activity, but since their launch, they’ve lost a combined $581.61 million.