Bitcoin and Ether Lead Institutional Buying Activity as Crypto Market Sees Surge

The crypto market has seen significant institutional buying activity, led by Bitcoin and Ether spot ETFs, which attracted fresh capital on July 10. Data from SoSoValue shows that spot Bitcoin ETFs posted the largest inflow of the day, with a combined $90.44 million in net inflows, bringing cumulative net inflows to $51.3 billion.

Spot Ether ETFs also drew money, recording net inflows of $18.43 million and lifting cumulative net inflows to $10.97 billion. In contrast, spot Hyperliquid ETFs saw outflows of $5.73 million on the day, despite having attracted $154.61 million over the past 30 days.

The increase in cumulative net inflows into Bitcoin and Ethereum spot ETFs is strengthening the institutional investor base and reducing volatility. However, it's still too early to conclude that the market is in a full-fledged bull run, given that inflows into altcoins remain minimal.