Bitcoin ETFs saw a staggering $2.78 billion in net inflows in a week, coinciding with BTC surpassing $90,000. Nine Ethereum ETFs also reported positive net inflows. Meanwhile, Sui’s price skyrocketed 60% on the back of increased trading volume and growing stablecoins.
Recent figures from Lookonchain reveal a remarkable surge in Bitcoin exchange-traded funds (ETFs), with notable inflows of 29,321 BTC, equating to approximately $2.78 billion in just one week. This surge aligns with Bitcoin crossing the $90,000 mark, showcasing strong investor interest. Not to forget, net inflows are the difference between the coins entering the ETF and those departing, signifying a robust market sentiment for BTC.
Lookonchain’s update from April 25 provides a clearer breakdown: the top ten Bitcoin ETFs saw a net flow of 5,037 BTC, contributing around $477.93 million. Specifically, Blackrock’s iShares led the charge with inflows of 3,500 BTC, amounting to $332.07 million, and currently holds a staggering 586,164 BTC valued at around $55.62 billion. Ethereum ETFs didn’t lag behind, with nine funds experiencing net inflows of 20,518 ETH, totalling approximately $36.5 million last week.
Investors have shows increased interest overall, with another research platform, SoSoValue, suggesting an impressive total of $109.27 billion has now been invested into U.S. Bitcoin ETFs, whilst U.S. Ethereum ETFs attracted about $6.14 billion. As of now, Bitcoin trades at $94,879, while Ethereum stands at $1,837, indicating a volatile yet lucrative space.
In related news, Lookonchain is closely monitoring the layer-1 protocol Sui (SUI), which experienced a staggering price rise of 60% recently. Reasons behind this upswing? The total value locked (TVL) in Sui has jumped 38% to $1.645 billion, and trading volume on decentralized exchanges has hit $599 million—a phenomenal 177% increase week-on-week. Furthermore, Sui’s stablecoins have surged from $482 million to $879 million over the last two months, representing an 82% growth. Currently, SUI is valued at $3.53.
