A Surge in Inflows: Bitcoin and Ethereum ETFs See Massive Investments
A recent report from Lookonchain, a leading on-chain analytics firm, reveals that the top 10 Bitcoin exchange-traded funds (ETFs) experienced significant inflows as Bitcoin soared above $90,000 in the past week.
According to Lookonchain’s data on X, these Bitcoin ETFs saw a total net inflow of 29,321 BTC, amounting to a staggering $2.78 billion within just seven days. Net inflows represent the difference between the coins entering an ETF and the ones exiting the investment vehicle.
Additionally, nine Ethereum ETFs also witnessed positive net inflows last week, totaling 20,518 ETH valued at $36.5 million.
Lookonchain provided detailed insights on the inflows, stating, “10 Bitcoin ETFs: NetFlow: +5,037 BTC (+$477.93 million). iShares (Blackrock) recorded inflows of 3,500 BTC ($332.07 million) and currently holds 586,164 BTC ($55.62 billion).”
Meanwhile, Ethereum ETFs saw a net inflow of +31,199 ETH (+$55.5 million), with iShares (Blackrock) reporting inflows of 22,704 ETH ($40.39 million) and holding 1,184,959 ETH ($2.11 billion).
Furthermore, data from SoSoValue indicates that as of April 25th, investors have injected $109.27 billion into US Bitcoin ETFs and $6.14 billion into US Ethereum ETFs.
As of the latest update, Bitcoin is trading at $94,879, while Ethereum is valued at $1,837.
Lookonchain is closely monitoring the performance of the layer-1 protocol Sui (SUI) following a significant surge in its price. The firm reported, “The SUI price has surged by 60% in the past week.”
Key drivers behind the rise of SUI include a 38% increase in Total Value Locked (TVL) to $1.645 billion, a 177% surge in DEXs (decentralized exchanges) Volume (24-hour) to $599 million, and a rapid growth in stablecoins on Sui from $482 million to $879 million over the past two months.
At present, SUI is trading at $3.53.
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