Ethereum

Rally

BlackRock

In a stunning turn of events, the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> market has witnessed a surge in crypto stocks following a massive influx of $1.8 billion into Bitcoin and Ethereum markets. Meanwhile, the pre-market session on March 4 saw stocks like Coinbase (COIN), MicroStrategy (MSTR), BlackRock iShares Bitcoin Trust (IBIT), and Robinhood (HOOD), among others, rallying significantly, riding on the wave of positive sentiment generated by the latest report from CoinShares. 
<h2 id="bitcoin-ethereum-etfs-notes-1-84-bln-weekly-inflow">Bitcoin &amp; Ethereum ETFs Notes $1.84 Bln Weekly Inflow</h2> 
CoinShares’ <a rel="nofollow" href="https://blog.coinshares.com/volume-172-digital-asset-fund-flows-weekly-report-6e6506a5c274" target="_blank">report</a> highlighted an extraordinary influx of $1.84 billion into digital asset investment products, marking the second-largest weekly inflows on record. Notably, this surge was accompanied by record-breaking trading volumes, surpassing $30 billion for the week. 
Meanwhile, <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener">Bitcoin</a> dominated the inflows, accounting for 94% of the total at $1.73 billion. In addition, <a href="https://coingape.com/trending/top-reasons-why-ethereum-might-hit-4000-in-march/" target="_blank" rel="noopener">Ethereum</a> also saw a significant uptick, with inflows totaling $85 million, the highest since mid-July 2022. This positive influx seems to have triggered the rally in crypto stocks in the pre-market session today. 
Besides, the report underscored the dominance of the United States in driving net inflows, which amounted to $1.88 billion. However, this was partially offset by outflows from established entities like <a href="https://coingape.com/blackrock-bitcoin-etf-600-mln-inflow-shields-market-amid-huge-gbtc-outflow/" target="_blank" rel="noopener">Grayscale</a>, witnessing $1.46 billion in outflows from its Bitcoin ETF. 
Nevertheless, new <a href="https://coingape.com/spot-bitcoin-etf-how-blackrock-and-fidelity-gobbled-up-79-on-inflows/" target="_blank" rel="noopener">Bitcoin ETF</a> issuers managed to counterbalance this trend, attracting a total of $3.2 billion in inflows. While Bitcoin remained the primary focus for investors, Ethereum’s resurgence signaled renewed interest in alternative cryptocurrencies. In addition, the gains in the crypto stocks also reflect the growing interest of traders in the digital asset sector. 
Also Read: <a href="https://coingape.com/shiba-inu-price-retraces-10-as-justin-sun-moves-20t-shib/" target="_blank" rel="noopener">Shiba Inu Price Retraces 10% As Justin Sun Moves 20T SHIB Tokens</a> 
<h2 id="crypto-stocks-rallies-amid-inflow-surge">Crypto Stocks Rallies Amid Inflow Surge</h2> 
The crypto stocks have gained notable traction from investors following the report’s release, suggesting a growing optimism among the investors. For instance, the <a href="https://coingape.com/crypto-stocks/COIN/" target="_blank" rel="noopener">Coinbase (COIN)</a> stock surged 6.57% in the pre-market session to $219.29, while <a href="https://coingape.com/crypto-stocks/MSTR/" target="_blank" rel="noopener">MicroStrategy (MSTR)</a> soared 8.58% to $1,171.88. On the other hand, BlackRock’s iShares Bitcoin Trust (IBIT) noted gains of 3.42% to $37.22, and <a href="https://coingape.com/crypto-stocks/HOOD/" target="_blank" rel="noopener">Robinhood (HOOD)</a> stock rose 1.93% to $16.90. 
However, despite the overall positivity, market responses varied across regions. Notably, Switzerland experienced inflows of $20 million, contrasting with outflows from Sweden, Germany, and Canada totaling $32 million, $35 million, and $23 million, respectively. 
Interestingly, short investors doubled down on their positions with an additional $22 million inflow into short Bitcoin investment products, reflecting a hedging strategy amidst <a href="https://coingape.com/bitcoin-btc-price-breaks-65k-ethereum-eth-tops-3500/" target="_blank" rel="noopener">Bitcoin’s recent price</a> movements. 
The influx of funds into Polygon and the outflows from <a href="https://coingape.com/markets/solana-price-forecast-will-sol-rally-to-200-with-increased-tvl-impact/" target="_blank" rel="noopener">Solana</a> hinted at shifting investor preferences within the altcoin market. With Polygon receiving $7.6 million in inflows, representing 22% of its <a href="https://coingape.com/glossary/assets-under-management/" target="_blank" rel="noopener">Assets under Management (AuM)</a>, and Solana witnessing outflows of $12 million, the dynamic nature of the cryptocurrency landscape was evident. 
However, the surge in the crypto stocks could be also attributed to the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> crossing the $65,000 mark for the first time since November 2021. On the other hand, the <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">Ethereum price</a> also traded over the $3,500 level on Monday, suggesting a hovering bullish sentiment in the market. 
Also Read: <a href="https://coingape.com/lunc-news-terra-classic-core-dev-jl1tf-founded-by-edward-kim-disbands-here-why/" target="_blank" rel="noopener">Terra Classic Core Dev JL1TF Founded by Edward Kim Disbands, Here Why</a> 
The post <a href="https://coingape.com/crypto-stocks-rally-after-1-8b-bitcoin-eth-etf-inflow/">Breaking: Crypto Stocks Rally After Massive $1.8B Bitcoin, ETH ETF Inflow</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: Crypto Stocks Rally After Massive $1.8B Bitcoin, ETH ETF Inflow

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