BlackRock’s IBIT Leads Spot Ethereum ETFs To Highest Net Daily Inflows Since February

The spot Ethereum ETF (exchange-traded fund) belonging to asset management giant BlackRock led the US funds to their highest net daily inflows since February yesterday.

BlackRock’s IBIT saw $163.6 million enter its reserves during yesterday’s trading session, as the funds collectively recorded $240.3 million inflows on the day. This is the highest net daily inflows recorded by the ETH funds since Feb. 4, according to data from Farside Investors.

Spot Ethereum ETFs Continue Impressive Inflow Streak

Yesterday’s net daily inflows is not only the highest since February, it is also a continuation of the funds’ impressive streak. Since May 16, the US spot ETH ETFs have posted net daily inflows. The only exception is May 26, which is Memorial Day in the US. 

BlackRock’s IBIT, which continued to dominate during that period, was not the only fund to record net daily inflows on June 11. Fidelity’s FETH also posted $37.3 million inflows yesterday, while Bitwise’s ETHW, Grayscale’s ETHE and Grayscale’s ETH recorded net inflows of $6.5 million, $13.3 million and $19.6 million yesterday, respectively.

Overall, the funds have recorded $3.763 billion cumulative inflows since their launch last year.

Institutions Not The Only Ones Buying Ethereum

Along with strong inflows yesterday, a crypto whale opened a 25x leverage position on the leading altcoin on June 10. 

According to market observer Ted Pillows, the whale’s position is around $11 million, signaling confidence that ETH’s price will begin to rise.  

The entry price was at $2,758.35, with the total position size amounting to 4,000 ETH. This position carries a liquidation price of $2,466, offering a relatively tight margin for error. 

Ethereum’s price has dropped slightly since the whale opened the position to trade at $2,736.21 as of 8:00 a.m. EST, which is still above the liquidation price.