Investor appetite for bitcoin ETFs remains insatiable. Just a day after posting record-breaking inflows
Bitcoin (BTC) ETFs continued their stellar performance with a massive $917 million in inflows on Wednesday, April 23, largely driven by iShares Bitcoin Trust (IBIT) from BlackRock. The institution's flagship product pulled in a staggering $643.16 million in a single day, contributing significantly to the overall narrative of bitcoin ETFs outperforming ether (ETH) ETFs.
The day's biggest movers included Ark 21Shares Bitcoin ETF (ARKB) and Fidelity Bitcoin ETF (FBTC), which saw inflows of $129.50 million and $124.37 million, respectively. The remaining bitcoin ETFs, such as Grayscale Bitcoin Trust (BTC) and VanEck Bitcoin Technology ETF (HODL), also reported positive inflows, while Bitwise Bitcoin Strategy ETF (BITB) faced a minimal outflow of $15.25 million.
In total, bitcoin ETFs experienced a trading volume of $4.09 billion, with net assets surging to $106.39 billion. This marks another significant milestone for bitcoin ETFs, highlighting the persistent demand for the cryptocurrency despite the recent market volatility.
On the other hand, ether ETFs slipped back into outflow territory with a total of $23.88 million exiting the space. The majority of the outflows came from iShares ETH ETF Futures (ECHA), which reported a day-over-day outflow of $30.28 million.
However, Grayscale Ethereum Trust (ETH) managed to soften the blow with an inflow of $6.40 million. Despite the efforts, ether ETFs still clocked a trading volume of $432.87 million, settling with net assets at $5.93 billion.
As bitcoin ETFs continue to break new highs, ether ETFs seem to be struggling with some uncertainty, which might be linked to the recent price fluctuations in the ether market. Nevertheless, both types of ETFs are keeping investors engaged, especially as they search for diverse investment opportunities in the evolving cryptocurrency landscape.
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