Bitcoin ETFs Surge With $724 Million Inflows Led by BlackRock's IBIT, Ethereum Sees Outflows

Digital asset investment products saw a significant turnaround last week, ending a five-week streak of outflows with total inflows of $644 million. Bitcoin ($BTC) led the recovery with $724 million in inflows, reversing a previous $5.4 billion in outflows over the past five weeks. This surge in Bitcoin inflows was largely driven by U.S.-listed spot Bitcoin ETFs, with BlackRock's iShares Bitcoin Trust (IBIT) contributing $464 million, Fidelity's FBTC adding $136 million, and ARK 21Shares bringing in $75 million.

In contrast, Ethereum ($ETH) experienced outflows totaling $86 million, continuing a trend of outflows for the asset. Other altcoins showed mixed results, with XRP ($XRP) leading with $6.7 million in inflows, followed by Solana ($SOL) with $6.4 million. Polygon and Chainlink saw more modest gains of $400,000 and $200,000 respectively, while Sui, Polkadot, Tron, and Algorand faced outflows.

The majority of the inflows originated from the U.S., with additional contributions from Switzerland, Germany, and Hong Kong. This shift in sentiment has led to a 6.3% increase in total assets under management from the low point on March 10, reaching $134.5 billion. Meanwhile, short-Bitcoin investment products saw outflows of $7.1 million, reinforcing the bullish mood in the market.

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