Institutional interest in crypto appears to be reigniting, with U.S.-based spot Bitcoin and Ethereum ETFs collectively pulling in over $1 billion in net inflows on Thursday—marking their strongest daily performance since January.
The bulk of Thursday’s inflows—$934.8 million—went to Bitcoin funds. BlackRock’s IBIT dominated activity, contributing $877 million, pushing its year-to-date intake beyond $7.7 billion and cementing its place among the top five U.S. ETFs overall.
Fidelity’s FBTC and Ark’s ARKB followed with modest gains, while most other Bitcoin ETFs saw no activity. This marks seven consecutive days of positive flows, with cumulative inflows now exceeding $44 billion since January.
Ethereum ETFs added $110.5 million, their best daily performance since February. Grayscale, Fidelity, and Bitwise accounted for all inflows, while BlackRock’s ETHA remained flat. The ETH ETF sector has now seen five straight days of net gains.
According to analysts, the spike is likely a mix of renewed institutional confidence, a favorable risk environment, and potential liquidations of government-held crypto reserves. Galaxy’s Michael Harvey noted that “corporate buying appears to be leading the charge.”
Bitcoin may be entering a typical summer correction phase, according to a July 25 report by crypto financial services firm Matrixport.
Ethereum is showing strength in the face of broader market weakness, holding firm even as Bitcoin and other major assets trend downward.
Bitcoin has dropped sharply to test its local range low near $115,000, with analysts pointing to renewed whale activity and long-dormant supply movements as key contributors to the decline.
Pudgy Penguins’ native token $PENGU is attracting renewed attention from traders after showing consistent support at a key technical level.