On Wednesday, U.S.-listed spot crypto exchange-traded funds (ETFs) experienced robust net inflows, highlighting continued investor interest in ether (ETH) and bitcoin (BTC) products even amidst falling prices of the underlying assets. According to a report from investment bank JPMorgan (JPM), both asset classes are attracting attention from investors looking to capitalize on market dynamics.
Specifically, U.S. spot ether ETFs attracted an estimated $84 million in net inflows on May 28, indicating a resilient investor sentiment despite a 1.3% dip in ether prices. Notably, BlackRock’s iShares Ethereum Trust (ETHA) led the way, securing $52 million, followed by Fidelity’s Ethereum Fund (FETH) with $26 million. Grayscale’s mini ETH Trust and Invesco/Galaxy’s QETH rounded out the inflow rankings, bringing in $5 million and $2 million, respectively, according to the bank’s analysis.
Moreover, the ether ETFs demonstrated impressive trading activity, recording a notional trading volume of $459 million, significantly exceeding their post-launch daily average of approximately $375 million since debuting in July 2024.
Meanwhile, the performance of spot bitcoin ETFs was equally notable, as they saw approximately $431 million in net inflows. This surge was primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT), which alone welcomed $479 million in new investments. However, this strong inflow was partially tempered by redemptions from the ARK 21Shares Bitcoin ETF (ARKB), which experienced a $34 million outflow, along with $14 million from Fidelity’s FBTC.
Despite a 2.1% drop in bitcoin’s price, total trading volumes for these ETFs remained robust, reaching $3.5 billion—well above the historical average of $2.8 billion per day since their launch in January 2024.
Interestingly, recent trends highlight a marked shift in investor preferences, with many moving from gold to bitcoin ETFs. A report released by Bloomberg indicates that U.S. bitcoin ETFs have attracted $9 billion in inflows over the past five weeks, juxtaposed with $2.8 billion in outflows experienced by gold-backed funds.
To learn more about the performance of bitcoin spot ETFs, read this detailed report: Bitcoin Spot ETFs Pull in $5.77B in May, Their Best Performance Since November
