U.S. Spot Crypto ETFs Saw Strong Inflows on Wednesday, JPMorgan Says

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U.S.-listed spot crypto exchange-traded funds (ETFs) saw beardown nett inflows Wednesday, with some ether ETH and bitcoin BTC products continuing to gully capitalist involvement contempt declines successful underlying plus prices, concern slope JPMorgan (JPM) said.

U.S. spot ether ETFs logged an estimated $84 cardinal successful nett inflows connected May 28, arsenic capitalist involvement held steadfast adjacent with ether falling 1.3%, the slope said successful a study published connected Thursday.

Leading the battalion was BlackRock’s iShares Ethereum Trust (ETHA), which brought successful $52 million, followed by Fidelity’s Ethereum Fund (FETH) with $26 million. Grayscale’s mini ETH Trust and Invesco/Galaxy’s QETH added $5 cardinal and $2 million, respectively, the slope noted.

Notably, ether ETFs recorded a notional trading measurement of $459 million, good supra their post-launch regular mean of astir $375 cardinal since debuting successful July 2024, the slope observed.

Meanwhile, spot bitcoin ETFs brought successful an estimated $431 cardinal successful nett inflows, JPMorgan said, mostly powered by BlackRock’s iShares Bitcoin Trust (IBIT), which unsocial saw $479 cardinal successful caller investment.

The beardown inflow was partially offset by redemptions from ARK 21Shares Bitcoin ETF (ARKB), the slope noted, which shed $34 million, and Fidelity’s FBTC, which recorded $14 cardinal successful outflows.

Despite bitcoin's 2.1% driblet successful price, full trading volumes remained elevated, clocking successful astatine $3.5 billion, compared to the group’s humanities mean of $2.8 cardinal per time since launching successful January 2024, the study added.

Investors are moving from golden to bitcoin ETFs, according to a Thursday report by Bloomberg. U.S. bitcoin ETFs person seen $9 cardinal successful inflows implicit the past 5 weeks versus $2.8 cardinal successful outflows for gold-backed funds.

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