BlackRock scooped up $900 million of these cryptocurrencies in a week

BlackRock attracted nearly $900 million into its spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) over five trading sessions, pointing to increased institutional demand for digital assets despite ongoing market volatility.

Data for the week ending August 7 shows BlackRock’s spot Bitcoin ETF, IBIT, recorded net inflows of $693.5 million, while its spot Ethereum ETF, ETHA, attracted an additional $203 million. 

Combined, the two funds brought in $896.5 million, placing BlackRock as the dominant player for the week. 

The cryptocurrency inflows stand out because they were sustained across most of the week and significantly outpaced many competing issuers, reinforcing BlackRock’s position as the dominant force in the U.S. spot crypto ETF market.

IBIT attracted $111.4 million on August 3, followed by $170.3 million on August 4 and $196.8 million on August 5. The fund added another $128.3 million on August 6 before bringing in $86.7 million on August 7.

Industry-wide data indicates U.S. spot Bitcoin ETFs recorded approximately $865.4 million in net inflows between August 3 and August 7. This means IBIT alone captured roughly 80% of all new capital entering Bitcoin ETFs during the week.