BlackRock's IBIT Bitcoin ETF Sees Inflows of $733.6 Million in 24 Hours

As recently became known, the amount of inflows to Bitcoin (BTC) and Ethereum (ETH) exchange traded funds (ETFs) hosted by BlackRock in the last 24 hours totaled $860 million

BlackRock’s Bitcoin (BTC) and Ethereum (ETH) exchange traded funds (ETFs) saw a combined inflow of $860 million in the last 24 hours.

According to Bloomberg data, the majority of the inflows went to IBIT, a Bitcoin ETF from BlackRock, which saw inflows of $733.6 million. Meanwhile, ETHA, an Ethereum ETF from BlackRock, saw inflows of $132.3 million over the course of the previous day.

The inflows into BlackRock’s crypto ETFs come as both Bitcoin and Ethereum continue to trade at elevated levels. Bitcoin hit a new all-time high of $73,000 earlier this week, while ETH price is currently trading around $4,200.

The inflows into IBIT are particularly noteworthy, as the ETF only launched earlier this month. IBIT is now the second-largest Bitcoin ETF in the U.S., behind BITO, which has seen inflows of over $7 billion since launching in October 2021.

The inflows into ETHA are also significant, as they represent the largest inflows into any Ethereum ETF in the U.S. to date. ETHA launched earlier this year and is now the second-largest Ethereum ETF in the world, behind the Purpose Ethereum ETF, which trades on the Toronto Stock Exchange.

Overall, the inflows into BlackRock’s crypto ETFs are a sign of the growing institutional interest in cryptocurrencies. As more and more institutions gain exposure to crypto, it is likely that we will continue to see large inflows into crypto ETFs in the future.