BlackRock's Bitcoin ETF Gobbles Up $1B This Week, Fidelity Leads Among Ethereum ETFs With $31M

BlackRock’s iShares Bitcoin Trust IBIT ETF has attracted over $1 billion in inflows this week alone, which has helped propel the apex crypto to a 10% seven-day gain.

What Happened: According to data from SoSo Value, spot bitcoin ETFs in the U.S. garnered $470 million on Thursday alone. BlackRock’s IBIT was the frontrunner, pulling in $309 million, contributing to a total of $1.07 billion for the week.

Don’t Miss:

• This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.
  This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.
• Interest rates are falling but you can still make high yields in real estate. Find out how.

Overall, spot bitcoin ETFs have experienced significant inflows, with 12 funds amassing over $1.85 billion this week. Ark and 21Shares’ ARKB saw over $100 million in inflows. Grayscale’s GBTC recorded $45.70 million, while Fidelity’s FBTC had $11.69 million.

According to crypto analyst Rachael Lucas, per The Block, this trend is due to favorable macroeconomic conditions. When central banks reduce interest rates, investors explore alternative assets.

Thursday’s trading volume for bitcoin ETFs was approximately $1.47 billion, slightly lower than the previous day. Since January, cumulative net inflows have reached $20.66 billion, a milestone described by Bloomberg’s Eric Balchunas as “the most important metric in ETF world.”

Trending: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?

Spot Ethereum ETH/USD ETFs also reported positive flows, with $48.41 million on Thursday. Fidelity’s FETH led with $31.12 million, followed by BlackRock’s ETHA with $23.56 million. Despite these gains, Grayscale’s ETHE experienced $15.74 million in outflows.

Why It Matters: The surge in inflows Bitcoin ETFs comes as the cryptocurrency industry continues to grow according to important metrics.

According to a recent report by Coinbase and Glassnode, the crypto market is maturing, with successful spot ETFs and increased trading volumes cited as key growth drivers. Venture capital firm a16z found in a separate report that monthly active addresses are at all-time highs, up thrice from levels at the end of 2023.

The Securities and Exchange Commission had approved Bitcoin ETFs in January this year, following a controversial incident involving a hack of the SEC’s account.

Better Yields Than Some REITs?

The current interest rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through publicly-traded REITs.

Arrived Homes, the Jeff Bezos-backed investment platform, has launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. It paid 8.1% in August. The best part? Unlike other private credit funds, this one has a minimum investment of only $100. 

Looking for fractional real estate investment opportunities? The Benzinga Real Estate Screener features the latest offerings.

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.