- Bitcoin ETFs added 7,887 BTC in one day as BlackRock deepened its holdings.
- Ethereum ETFs saw $117M in weekly inflows ahead of its May 7 upgrade.
- Ted and Crypto Rover both signal bullish momentum for ETH and BTC prices.
Bitcoin and Ethereum ETFs are witnessing a surge in institutional interest. As inflows accelerate, BlackRock’s continued dominance and Ethereum’s looming upgrade are placing both assets at the center of renewed bullish momentum.
ETF Inflows Hit Record Levels
The second-largest single-day net inflow into Bitcoin spot ETFs ever occurred on May 5, when 7,887 BTC was added. Leading the surge was BlackRock’s iShares Bitcoin Trust, which acquired 6,954 BTC, increasing its total holdings to 274,000 BTC, or around $17.9 billion. According to LookOnchain data, all issuers currently own 1.16 million BTC, which is equivalent to $109 billion.
Ethereum ETFs are also gaining steam. In a single day, they added 10,619 ETH, with BlackRock’s iShares Ethereum ETF accumulating 6,499 ETH. This brings BlackRock’s ETH holdings to 1.26 million ETH, while total ETH held across all ETFs stands at 3.47 million ETH, currently worth about $6.27 billion. Despite ETH ETFs being newer and smaller, the data suggests growing institutional positioning ahead of Ethereum’s upcoming May 7 upgrade.
Over the past week, Bitcoin ETFs absorbed $1.76 billion in net inflows, while Ethereum ETFs added $116.97 million. The contrast underscores Bitcoin’s stronger maturity among institutions but also hints at Ethereum’s potential upside as it catches up.
Price Trajectory Mirrors ETF Demand
ETF inflows are closely tied to Bitcoin’s recent price trajectory. From February to April, as ETF demand pushed inflows from $0 to $30 billion, Bitcoin doubled from $35,000 to $70,000. The renewed wave of inflows in May has prompted speculation of a rally toward $100,000, especially with the price now consolidating just below all-time highs.
Ethereum has also experienced a steady price climb from $1,640 in March to around $1,880. Despite lower inflows and persistent outflows from Grayscale, key players like BlackRock and Fidelity are accumulating. Ethereum is currently locked in a tight range between $1,780 and $1,880, with the upcoming network upgrade seen as a potential breakout catalyst.
Ethereum’s upgrade draws institutional bets as Ted calls it deeply undervalued.
Crypto analyst Ted believes Ethereum is “the most underpriced asset in the market,” comparing its current stage to when Bitcoin was valued at $4,000. He emphasizes Ethereum’s dominance in real-world asset (RWA) issuance and its foundational role in stablecoin and DeFi liquidity as indicators of deep market utility.
He points to the May 7 upgrade, which includes multiple Ethereum Improvement Proposals (EIPs), as Ethereum’s “biggest ever.” Ted argues that institutional players are front-running the upgrade and expect it to serve as a major trigger for ETH to rerate sharply upward.
Bitcoin eyes breakout as ETF inflows and accumulation mirror late-2023 setup.
Crypto Rover shared a chart showing that Bitcoin is forming a similar price structure to the one it displayed before its breakout in late 2023. He highlighted the consolidation range and suggested that the current inflow surge could be the fuel needed for another large move.
Crypto Rover noted that institutional accumulation and strong ETF demand are aligning to push BTC beyond resistance levels. According to him, the momentum could trigger a rally toward $100,000 if Bitcoin breaks out of its current range.
