Wall Street’s big shots and your neighbor with the “HODL” bumper sticker are suddenly on the same side, throwing billions into Bitcoin ETFs like it’s the hottest table at the casino.
For seven straight days, spot Bitcoin ETFs have been raking in cash, over $3.75 billion, to be exact.
New energy
Let’s talk numbers, because these ETFs now manage $109.3 billion in Bitcoin, up from a local low of $85.7 billion just a few weeks ago.
That’s a 26% rebound, guys, quite nice. The last time we saw this kind of action was back in March, and the all-time high?
$123.6 billion, set in January. So, we’re not at the top, but we’re definitely back in the game.
Now, here’s where it gets a little spicy, as BlackRock’s IBIT fund is stealing the spotlight, pulling in nearly a billion bucks in a single day while rivals like Fidelity, Grayscale, and VanEck are watching cash walk out the door.
It’s like BlackRock’s running the show and everyone else is just hoping to get a seat at the table.
Exhausted place
On the other hand, over in Hong Kong, the mood is less champagne and caviar, more last call at the bar.
Their spot Bitcoin ETFs are bleeding out, with the last notable move being a pretty measly 7.91 BTC outflow. Not exactly a ringing endorsement from the East.
And one for the Ether fans, please don’t start sulking yet. Spot Ether ETFs just notched their own three-day winning streak, pulling in $231.8 million and bouncing back from an all-time low earlier this month.
BlackRock’s ETHA fund is leading the charge, while Bitwise’s ETHW is quietly losing steam.
The Ether ETF sector is sitting at $6.2 billion, and while that’s still a far cry from its $14.3 billion peak, it’s moving up.
The new boss
Interestingly, while the U.S. ETF scene is buzzing, there’s a storm brewing at the SEC. More than 70 crypto ETFs, everything from XRP and Solana to memecoins like Dogecoin, are waiting for the green light.
The new SEC chair, Paul Atkins, is expected to shake things up, maybe even open the floodgates.
But regulators are still figuring out who gets to play and who sits on the bench. It’s a slow game, and it’s annoying, not gonna lie.
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