Bitcoin exchange-traded funds (ETFs) continued their impressive inflow run on Friday, May 9, as investors channeled a net total of $321 million into the cryptocurrency ETFs. The session was largely driven by a substantial contribution from Blackrock and inflows into Fidelity’s bitcoin ETF.
The bitcoin ETFs brought in a collective trading volume of $2.66 billion for the day, and the category’s net asset value surged to $121.23 billion, marking a significant increase from Thursday’s figures.
The bulk of Friday’s bitcoin ETF inflows stemmed from a massive $356.20 million contribution by Blackrock’s IBIT, further amplifying the institution’s involvement in the digital asset domain.
Moreover, Fidelity’s FBTC saw an inflow of $45 million, and Vaneck’s HODL brought in $13.12 million. However, the session wasn't entirely filled with gains, as Grayscale’s GBTC reported a noteworthy $65.16 million outflow, and Bitwise’s BITB experienced an outflow of $14.59 million. Despite these outflows, the session ultimately ended in the black.
In the realm of ether ETFs, the category returned to the green after 3 straight days of outflows, with a modest $18 million inflow. The sole contributor to this change was Blackrock’s ETHA, which reported an inflow of $17.61 million. No other ether ETFs recorded any movement.
The ether ETFs brought in a total trading volume of $620.39 million, and their net asset value rose above the $8 billion mark for the first time in weeks, reaching $8.02 billion.
As bitcoin ETFs continue to report strong sessions and ether shows signs of recovery, the digital asset ETF space appears to be finding a renewed spring footing.
