Crypto mining and other digital currency industry exchange-traded funds led last week's ETF price gains, while the Vanguard 500 Index Fund (VOO) captured the bulk of inflows and the SPDR S&P 500 ETF Trust (SPY) experienced the largest number of outflows.
Investors rushed into digital currency ETFs as bitcoin rose, 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 data from etf.com. It was followed by a 21% gain in the First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) of $31.5 million, and the VanEck Digital Transformation ETF (DAPP), which has $77.8 million under management and increased by 18%.
The rise in Bitcoin price 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 leads outflows
VOO grabbed the lion's share of investor money going into ETFs last week, raising $1.66 billion, boosting 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 largest exchange-traded fund, lost 1.6% of its assets, losing $8 billion and shrinking 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 stand at $33.5 billion.
Among the biggest gainers in percentage terms is the iShares Bitcoin Trust (IBIT), which earned $548.7 billion, a 15% increase in assets that reached $3.75 billion at the end of the week.