A prominent on-chain analytics firm says the 10 largest Bitcoin exchange-traded funds (ETFs) witnessed massive inflows over the past week as BTC surged above $90,000.
On the social media platform X, Lookonchain says the Bitcoin ETFs saw net inflows of 29,321 BTC worth $2.78 billion in just seven days.
Net inflows refer to the number of coins entering an ETF minus outflows or coins leaving the investment vehicle.
The analytics firm also notes that nine Ethereum ETFs witnessed positive total net inflows last week to the tune of 20,518 ETH worth $36.5 million.
Says Lookonchain,
“Apr 25 Update:
10 Bitcoin ETFs:
NetFlow: +5,037 BTC (+$477.93 million)
iShares(Blackrock) inflows 3,500 BTC($332.07 million) and currently holds 586,164 BTC($55.62 billion).
Nine Ethereum ETFs:
NetFlow: +31,199 ETH (+$55.5 million)
iShares (Blackrock) inflows 22,704 ETH ($40.39 million) and currently holds 1,184,959 ETH ($2.11 billion).”
Meanwhile, data from the crypto investment research platform SoSoValue shows that as of April 25th, investors have poured a total of $109.27 billion into US Bitcoin ETFs and $6.14 billion into US Ethereum ETFs.
At time of writing, Bitcoin is trading for $94,879 while Ethereum is worth $1,837.
Lookonchain is also keeping a close watch on the fundamentals of the layer-1 protocol Sui (SUI) after the altcoin went on a rampage last week.
“The SUI price has surged by 60% in the past week.
What is driving the rise of SUI?
TVL has increased by 38% in the past week to $1.645 billion.
DEXs (decentralized exchanges) Volume (24 hour) has reached $599 million, a 177% increase from last week.
Stablecoins on Sui have grown rapidly over the past two months, rising from $482 million to $879 million, an 82% increase.”
At time of writing, SUI is trading at $3.53.
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