Bitcoin and ether ETFs experienced a massive surge in inflows on Monday, marking one of Bitcoin’s most monumental trading days as the cryptocurrency neared a record-breaking $90,000 price.
Ether (ETH) ETFs saw unprecedented inflows, totaling $295.5 million, with BlackRock’s ETHA and Fidelity’s FETH both capturing $100 million each, according to Farside Investors’ data.
Bitcoin ETFs also saw remarkable growth, with $1.1 billion in net inflows, making it the second-largest day on record, as Bitcoin’s market capitalization soared to a historic $1.78 trillion, surpassing silver to become the eighth-largest asset worldwide. The bulk of the funds, $765.5 million, went into the iShares Bitcoin Trust (IBIT), while Fidelity’s FBTC collected $135.1 million.
“U.S. spot Bitcoin ETFs now manage $84 billion, or two-thirds of gold ETF assets. At this rate, they could surpass gold within a year, a much quicker timeline than our original 3-4 year estimate,” commented Eric Balchunas, senior analyst at Bloomberg, in a post on X.
This day of record-breaking inflows extended to more than just crypto ETFs. MicroStrategy (MSTR), the company holding the largest Bitcoin stash, saw its stock hit a record high, while Coinbase (COIN) surpassed $320 per share for the first time since November 2021.
“The Bitcoin Industrial Complex — which includes ETFs, MSTR, and COIN — saw a combined $38 billion in trading volume today, setting lifetime records across the board. IBIT alone recorded $4.5 billion in trades, signaling continued strong inflows. It was an exceptional day, one that could be called ‘Volmageddon,’” Balchunas added in a separate post.
As of the latest data, Bitcoin is trading around $88,000, while Ether is priced near $3,400.
