Bitcoin and Ethereum Investment Products Surge with $785M Inflows, BlackRock Leads as Bitcoin Tops $100,000

Bitcoin and Ethereum investment products have seen significant inflows, with digital asset funds recording $785 million last week, marking the fifth consecutive week of positive inflows. Bitcoin attracted $557 million, while Ethereum saw $205 million, boosted by the Pectra upgrade and leadership changes. The year-to-date inflows for digital assets have now reached $7.5 billion, surpassing the previous peak set in early February.

Institutional interest in Bitcoin has surged, with Northeast Financial revealing a $7.2 million purchase, and Millennium Management increasing its holdings to $1.6 billion. Bank of America also disclosed an increase in its Bitcoin exposure in its Q1 13F filing. BlackRock's spot Bitcoin ETF, IBIT, has been a dominant player, pulling in $305.9 million on a single day, with total net assets reaching $66.9 billion, representing about 3.2% of Bitcoin's market capitalization. Fidelity also made a significant move, purchasing $188 million worth of Bitcoin.

Ethereum has been highlighted as a standout performer, with Abraxas Capital accumulating 350,703 ETH worth $837 million since May 7, including a recent $115.3 million purchase. BlackRock also bought $13.1 million worth of Ethereum. The Realized Cap of Ethereum has surged by $3.8 billion since the Pectra upgrade, reversing a three-month downtrend.

Spot Bitcoin ETFs have seen their assets under management reach $131.08 billion, with BlackRock's ETF holding 631,962 BTC valued at approximately $65 billion, representing nearly 3% of the total Bitcoin supply. The ETFs recorded $667.4 million in inflows on a single day, with Bitcoin trading above $100,000 for 12 consecutive days and reaching its highest weekly close in history. BlackRock's spot ETFs also purchased 2,870 BTC and 5,490 ETH on May 19, totaling roughly $318 million.

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