Bitcoin and Ethereum exchange-traded funds have recently experienced huge inflows. As per Lookonchain, a popular on-chain analytics provider, Bitcoin ETFs have witnessed 7,494 $BTC while Ethereum ETFs have recorded 2,485 $ETH in net inflows on October 15, signaling a surge in institutional interest in the top crypto assets. The analytics platform took to social media to offer insights into the current status of the ETF inflows.
Bitcoin ETFs Add a Staggering $490.19M in Inflows
In its latest X post, Lookonchain pointed out that Bitcoin ETFs have seen enormous inflows of up to $490.19M worth. Hence, the inclusion of 7,494 $BTC denotes the latest capital influx in the prominent exchange-traded funds. Particularly, the Bitcoin ETF of Fidelity dominated the rest in terms of inflows by adding 183,695 $BTC tokens. This figure reportedly equals nearly $237.27M.
$ETH ETFs Record Slight Inflows of $6.38M
Apart from that, Ethereum ETFs have also experienced notable inflows with the addition of 2,485 $ETH. This amount reportedly equals $6.38M. iShares, a well-known $ETF platform in the market has played a significant role in these inflows. As per the data, it accounted for a total inflow of 419,621 $ETH, with a value of approximately $1.08B.
As data points out, Bitcoin ETFs saw $809.5M in cumulative inflows during the recent 2 trading days. However, the minor inflows of Ethereum ETFs signify a relatively silent behavior. Even then, despite a quiet trading day on the 11th of this month, Ethereum ETFs witnessed a return on the 14th of October. Fidelity and Grayscale led the market with $8.6m and $8.7M in inflows.
Increasing ETF Inflows Indicate a Rise in Institutional Interest
According to Lookonchain, the inflows into Ethereum and Bitcoin ETFs highlight the mounting interest among institutional firms regarding these digital assets. A key reason behind this takes into account the mainstream adoption of the respective assets.
