The new week began with a decisive return of capital to the largest cryptocurrency funds. Bitcoin ETFs attracted nearly $300 million in a single session, with BlackRock and Fidelity leading the way, while ether products also showed a broad recovery of their own.
This growth occurred after a challenging end to last week, when Bitcoin funds faced share redemptions for three consecutive days.
BlackRock and Fidelity Stimulate Bitcoin Recovery
Bitcoin ETFs attracted $297.56 million across four funds, with none of the products recording outflows. BlackRock's IBIT fund led the session, attracting $160.23 million in new capital. It was followed by Fidelity's FBTC with $111.90 million, and these two funds accounted for over 90% of the total daily volume.
The ARKB fund from ARK 21Shares attracted $14.18 million, and the MSBT fund from Morgan Stanley attracted $11.24 million. Trading volume for Bitcoin ETFs reached $2.12 billion. The aggregate net asset value at close was $77.41 billion.
This session also coincided with new evidence of institutional investor participation in the sector. Quantitative trading firm Jane Street disclosed that as of June 30, its portfolio of U.S. spot Bitcoin ETFs exceeded $1 billion, with approximately $828 million invested in BlackRock's IBIT. The remainder was distributed among products like Fidelity's FBTC and Grayscale's GBTC.
Harvard Management Company also maintained its position in IBIT in the second quarter. As of June 30, this endowment reported ownership of 3,044,612 shares worth $101.4 million, unchanged from the previous quarter after two consecutive quarters of sales.
Ether Joins Recovery While Altcoins Languish
Ether ETFs attracted $30.85 million, with inflows distributed across three funds. BlackRock's ETHA accounted for the majority of demand, with inflows of $25.90 million. Fidelity's FETH fund attracted $4.27 million, and Bitwise's ETHW fund attracted about $682,000.
No ether ETF recorded outflows; total trading volume reached $459.73 million, and the aggregate net asset value at the end of the session was $10.59 billion.
Activity in the rest of the crypto ETF market was subdued. Products based on Solana, XRP, and HYPE recorded no net inflows or redemptions during the session.
Monday's flow data allowed the week to start on a more positive note following seller pressure in recent sessions. Bitcoin once again attracted the bulk of institutional demand, followed on a smaller scale by ether, while the altcoin ETF market largely remained on the sidelines.
end-content
