The crypto market keeps attracting institutional interest as the latest data concerning the Ethereum and Bitcoin ETFs discloses more inflows. As per the data from Lookonchain, a popular on-chain analytics platform, Bitcoin ETFs saw a substantial amount of 4,772 $BTC in net inflows while Ethereum ETFs added 1,153 $ETH. The analytics provider took to social media to offer exclusive statistics about the ETF inflows.
Oct 22 Update:
10 #Bitcoin ETFs
NetFlow: +4,772 $BTC(+$319.27M)9 #Ethereum ETFs
NetFlow: +1,153 $ETH(+$3M)— Lookonchain (@lookonchain) October 22, 2024
Bitcoin ETFs Add $319.27M While BlackRock Leads with $325.81M in Inflows
In line with Lookonchain’s data, the remarkable inflow of 4,772 $BTC accounts for a significant $319.27M.  BlackRock’s iShares ETF has led the market with a huge contribution of up to 4,869 $BTC in terms of inflow. This figure reportedly equals to $325.81M. With the respective inclusion, the cumulative Bitcoin holdings of BlackRock have reached a stunning 391,484 $BTC. This amount accounts for more than $26.19B in total.
The spike in $BTC ETF inflows signifies that institutional investors are taking more and more interest. BlackRock, which stands among the biggest asset management companies, has gradually expanded $BTC holdings. This mirrors the wider acceptance of the top crypto asset in the mainstream. While the market capitalization of Bitcoin can exceed $500B, exchange-traded funds facilitate conventional investors. They can leverage Bitcoin ETFs to get exposure to the chief crypto asset without straightly holding it.
Ethereum ETFs See a Similar Trend with Net Inflows of $3M Worth
On the other hand, a similar trend has taken place among the Ethereum ETFs. The cumulative inflows into $ETH ETFs have touched 1,153 $ETH, accounting for $3M. Again, BlackRock’s $ETH ETF solely added 1,818 $ETH tokens. They reportedly equal $4.74M to the ETF’s holdings. As a result of this, it currently holds 435,072 $ETH in assets under management with a value of $1.13B.
Source: https://blockchainreporter.net/bitcoin-and-ethereum-etfs-see-substantial-inflows-a-closer-look-at-the-new-trends/