Bitcoin ETFs Lead $471M Crypto Inflows Surge
Spot Bitcoin ETFs saw $471M inflows on Jan. 2, with BlackRock’s IBIT topping the list. Ethereum and XRP ETFs also showed strong entries.
- Spot Bitcoin ETFs led the day with $471M in net inflows.
- BlackRock’s IBIT saw the largest single-day inflow at $287M.
- Ethereum and XRP ETFs posted $174M and $13.59M in inflows respectively.
The crypto market welcomed 2024 with renewed institutional interest, as spot Bitcoin ETF inflows hit $471 million on January 2 (ET). BlackRock’s iShares Bitcoin Trust (IBIT) emerged as the biggest winner, drawing in a remarkable $287 million — a strong sign of investor confidence in Bitcoin-backed financial products.
The renewed momentum comes as anticipation builds for broader ETF approvals in the U.S., particularly for Ethereum and other altcoins. The market’s early-year performance could set the tone for the months ahead.
Ethereum and XRP ETFs Follow Bitcoin’s Lead
While Bitcoin ETFs dominated the headlines, spot Ethereum ETFs also performed impressively, bringing in $174 million in net inflows. Grayscale’s ETHE led this category with a $53.69 million influx, signaling that investor appetite is growing beyond Bitcoin.
Spot XRP ETFs, though much smaller in scale, also saw positive activity. These products recorded $13.59 million in net inflows, marking XRP’s growing recognition in regulated markets despite past legal hurdles.
Institutional Confidence Signals Bullish Sentiment
The significant inflows into spot crypto ETFs suggest rising institutional confidence in digital assets. BlackRock’s IBIT performance highlights Bitcoin’s appeal as a secure, long-term investment option. Ethereum’s strong showing reinforces its position as the leading smart contract platform, while XRP’s positive momentum hints at increasing demand for efficient cross-border payment solutions.
This early-year surge in spot ETF inflows could signal a broader bullish trend as traditional finance continues its entry into crypto markets. If these patterns continue, 2024 might become a pivotal year for crypto ETF adoption.
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