Ether ETF Inflows Reach All-Time High as Bitcoin Gains Traction, BTC Poised for $90K

Bitcoin and ether exchange-traded funds (ETFs) saw massive inflows during one of the most significant trading days in Bitcoin’s history, as investors poured money into U.S. spot crypto ETFs on Monday. Bitcoin (BTC), the largest cryptocurrency by market cap, reached a record price just shy of $90,000.

Ether (ETH) ETFs broke records with $295.5 million in inflows, with BlackRock’s ETHA and Fidelity’s FETH each collecting $100 million, according to data from Farside Investors.

Bitcoin ETFs saw a staggering $1.1 billion in inflows, the second-highest on record, as Bitcoin’s market cap surged to a new high of $1.78 trillion, surpassing silver and becoming the eighth-largest asset in the world. The bulk of the inflows, $765.5 million, went into the iShares Bitcoin Trust (IBIT), while Fidelity’s FBTC attracted $135.1 million.

“Assets in U.S. spot Bitcoin ETFs have reached $84 billion, which is two-thirds of the total held by gold ETFs. These funds could actually surpass gold ETFs sooner than expected, possibly within their first year, instead of the previously predicted 3-4 years,” noted Eric Balchunas, a senior analyst at Bloomberg, in a post on X.

The record-breaking day wasn’t limited to crypto ETFs. MicroStrategy (MSTR), the company with the largest Bitcoin holdings, saw its stock hit a record high, while Coinbase (COIN) climbed past $320 per share, a level not seen since November 2021.

“The Bitcoin Industrial Complex — ETFs, MSTR, and COIN — saw $38 billion in trading volume today, breaking all-time records, including $4.5 billion for IBIT. This signals a strong week of inflows ahead. It was an incredible day that deserves its own name, like ‘Volmageddon,’” Balchunas remarked in another post.

As of the latest data, Bitcoin is trading around $88,000, with Ether near $3,400.

  • Related Posts

    Polymarket faces a $520K exploit concern on Polygon flagged by ZachXBT, but developers say assets are safe.

    Blockchain investigator ZachXBT has flagged a suspected security incident involving Polymarket, the world’s largest decentralized prediction market, after on-chain data indicated that more than $520,000 was drained from smart contracts…

    Continue reading
    Near Protocol’s move to self-automate growth is powering a rapid spike in its token value.

    NEAR Protocol is set to deploy dynamic resharding in June, an upgrade that will allow the blockchain to automatically scale by adding new shards as demand increases, removing the need…

    Continue reading