On March 13, US-listed spot cryptocurrency ETFs registered net inflows totaling $124.89 million, marking a notable swell in institutional capital just as concerns over stagflation and signs of weakening in the US economy were rising. The strength of the rally throughout the day was attributed in large part to the aggressive buying by global asset management giants BlackRock and Fidelity.
BlackRock and Fidelity Lead with Large-Scale Purchases
A closer look at the day’s movements underscores the dominant roles played by these two asset managers. BlackRock’s Bitcoin ETF accumulated 657 BTC—amounting to around $46.1 million—over the trading session, alongside an additional 9,118 Ethereum tokens. Meanwhile, Fidelity’s ETF added another 218 BTC and 25,354 ETH, bringing its single-day investment in both Bitcoin and Ethereum to $67.3 million. By the end of trading, BlackRock and Fidelity had collectively purchased $132.1 million worth of Bitcoin and Ethereum, surpassing the total net ETF inflows when factoring in the figures for XRP and other products with zero inflow or outflow.
Ethereum ETFs Set New Record with Investor Attention
March 13 was a remarkable day for Ethereum ETFs, recording $72.4 million in inflows and setting a fresh record—outpacing the $53.8 million channeled into Bitcoin ETFs on the same day. This surge came in the wake of the launch of BlackRock’s iShares Staked Ethereum Trust (ETHB), an ETF offering investors staking yield on Ethereum. ETHB traded $15.58 million in volume on its debut, signaling mounting institutional interest. The inflows observed on March 13 point to expanding demand for Ethereum products, with capital moving towards both yield-bearing and standard spot Ethereum ETFs after ETHB’s introduction.
Outflows from XRP ETFs Defy Market Rally
Elsewhere, XRP ETFs witnessed $6.08 million in outflows during a session where XRP’s spot price actually rose by 4.44%. This contradiction prompted analysts to suggest that some investors were taking profits via ETFs or rebalancing their portfolios amid the price surge. Nevertheless, the scale of these outflows remained minor in the context of the overall ETF landscape.
During the same period, Solana ETFs drew in $3.9 million, Chainlink ETFs attracted $328,000, and Polkadot ETFs saw $544,000 in fresh inflows. In contrast, there was no recorded movement in Dogecoin, Litecoin, Avalanche, or HBAR ETFs.
The aggregated data for March 13 underscores that US-based spot cryptocurrency ETFs enjoyed over $124 million in net institutional inflows. The lion’s share of this capital was anchored by coordinated, large-scale buying of both Bitcoin and Ethereum products by BlackRock and Fidelity.
This vigorous institutional demand in the crypto market coincided with a period of mounting macroeconomic uncertainty in the US, where weak economic indicators and growing stagflation fears pushed investors to seek opportunities in alternative assets, including cryptocurrencies.
The momentum behind ETF inflows points to a new phase of adaptation in the market, with institutional players increasing their footprint. According to ETF proponents, this sustained capital injection is set to play a pivotal role in advancing mainstream adoption of crypto assets by broadening access and building credibility.
