The demand for cryptocurrency on Wall Street is more than evident, and the past week only proved that narrative. The ETFs tracking the performance of the two largest digital assets recorded a highly impressive five-day trading period, attracting billions of dollars in total. In the meantime, the prices of both skyrocketed to a multi-month and an all-time high. Bitcoin ETFs See Over $2.5B in Net Inflows Let’s begin with the most impressive numbers, which came in the last two trading days of the week. Data from FarSide shows that Thursday saw the biggest new inflow day since early November and the second-largest in the 18-month history of the funds. $1,175.6 billion went into the financial vehicles, which were distributed somewhat evenly between three of the biggest – $448.5 million into BlackRock’s IBIT, $324.3 million into Fidelity’s FBTC, and $268.7 million into Ark Invest’s ARKB. Friday was almost as impressive, with $1,029.6 billion entering the funds. This time, though, IBIT dwarfed its competition, attracting $953.5 million. ARKB, which was second, was far, far behind, with a modest $23.5 million in net inflows. Adding the $215.7 million witnessed on Wednesday, $80.1 million on Tuesday, and $216.5 million on Monday, the total for the week stands at $2,717.5 billion. Somewhat expected, these mindblowing numbers affected the underlying asset’s price, which surged by over $10,000 to a new all-time high of almost $119,000 on Friday. What’s perhaps even more impressive is that all Bitcoin ETFs have seen only one negative day (July 1) since June 9. ETH ETFs Impress, Too The spot Ethereum ETFs , which are close to celebrating their first year in existence, have also become a lot more favorable among investors in the past few months. Moreover, they set a record in terms of daily inflows on Thursday, as reported , when $383.1 million entered the funds. Friday and Wednesday were also impressive in this regard, albeit in a more modest manner, with $204.9 million and $211.3 million going into the financial vehicles, respectively. On Monday and Tuesday, investors allocated $62.1 million and $46.7 million into the ETFs, bringing the total for the week to $908.1 million, according to data from FarSide. BlackRock’s ETHA has dominated the landscape once again, gaining over $300 million out of the $383.1 million on Thursday and $137.1 million out of the $204.9 million on Friday. ETH’s price has also benefited from the substantial interest in the Ethereum ETFs, shooting up this week from $2,500 on Wednesday to a multi-month high of its own at $3,040 on Friday. It has retraced slightly to just under $3,000 now, but it’s still up by over 17% on a weekly scale. In total, the Bitcoin and Ethereum ETFs attracted more than $3.6 billion in one week alone. The post Wall Street Bets Big — $3.6B Pours Into Bitcoin, Ethereum ETFs Weekly appeared first on CryptoPotato .
