Crypto Industry ETFs Topped Last Week’s Gainers

Crypto mining and other digital currency industry exchange-traded funds led last week’s ETF price gains, while the Vanguard 500 Index Fund (VOO) grabbed the biggest share of inflows and the SPDR S&P 500 ETF Trust (SPY) experienced the most outflows.

Investors jumped into digital currency ETFs as bitcoin surged, jumping about 17% over the past week. The $81.2 million Valkyrie Bitcoin Miners ETF (WGMI) soared 24%, and was the week’s top performer, according to etf.com data. It was followed by a 21% gain in the $31.5 million First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT), and the VanEck Digital Transformation ETF (DAPP), which has $77.8 million under management and rose 18%. 

Bitcoin’s price gain has stoked enthusiasm for spot bitcoin ETFs, which after their first month of trading are approaching $10 billion in inflows, excluding the Grayscale Bitcoin Trust (GBTC) which was a conversion of an existing trust into an ETF. 

VOO Leads Inflows, SPY Tops Money Flowing Out 

VOO grabbed the biggest share of investor money going into ETFs last week, hauling in $1.66 billion which boosted its assets 0.4% to $403.3 billion. It was followed by the iShares Core S&P 500 ETF (IVV) which added 0.2%, or $917.2 million, or $433.1 billion. 

SPY, the biggest exchange-traded fund, lost 1.6% of its assets, shedding $8 billion and slimming down to $487.7 billion. The second-biggest loser was the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), which lost 3.9% of its assets, or $1.3 billion, and whose assets now are $33.5 billion. 

Among the biggest gainers on a percentage basis was the iShares Bitcoin Trust (IBIT), which pulled in $548.7 billion, a 15% jump in assets which hit $3.75 billion at week’s end.