BlackRock, Fidelity Drive Record Crypto ETF Inflows

Institutional inflows into Bitcoin and Ethereum ETFs have surged, with Bitcoin ETFs attracting over $1.8 billion between June 9 and June 17, primarily from BlackRock and Fidelity, despite ongoing price volatility and global geopolitical tensions. BlackRock's purchase of 2,454 BTC worth over $260 million highlights rising institutional confidence in cryptocurrencies amid market instability. Ethereum, trading below $3,000 and facing bearish technical signals, saw almost 871,000 ETH bought in a day and over $21 million in ETF inflows, also led by BlackRock and Fidelity. Open interest in Ethereum futures has reached a yearly high, reflecting speculative bets on a significant price movement. Analysts are divided on Ethereum's short-term prospects, but robust ETF activity underscores growing institutional interest in digital assets as alternatives during equity market turbulence. Major crypto inflows are increasingly correlated with broader market uncertainties and geopolitical events.