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Spot Bitcoin exchange-traded funds have finally returned to positive territory after enduring five straight weeks of capital withdrawals. Flow data shows that the just-concluded week delivered a strong rebound in investor demand, although the late surge was not enough to fully repair the damage recorded earlier in February.
Investors Pour $787 Million Into Spot Bitcoin ETFs
According to data from SoSoValue, Spot Bitcoin ETFs posted a combined $787.31 million in net inflows during the week, which was the first green weekly print after five consecutive weeks of outflows. The turnaround was mostly facilitated by three straight days of positive flows on Tuesday, Wednesday, and Thursday, which helped tip the balance back into positive territory.
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Last week’s numbers and the change in momentum show that institutional and ETF-based investors chose last week to step back into Bitcoin after an extended period of consecutive outflows. However, despite the strong weekly performance, the entire monthly net flow still ended in red due to the depth of withdrawals that occurred earlier in the month. As such, February ultimately closed with a total net outflow of $206.52 million from Spot Bitcoin ETFs.
Spot Bitcoin Weekly Netflows. Source: SoSoValue
The resilience of ETF holders was also highlighted by crypto pundit Nate Geraci on the social media platform X. He noted that investors in Spot Bitcoin ETFs have largely maintained conviction during recent Bitcoin downturns.
Geraci’s remarks described the recent withdrawals as modest in the broader context of the asset class’s overall growth. He pointed out that since Bitcoin reached its record high in early October, Spot Bitcoin ETFs have experienced about $6.5 billion in net outflows.
However, he also noted that this figure is small relative to the $55 billion that the funds have attracted since their launch in January 2024. He also referenced the over $1 billion in inflows from Tuesday to Thursday, which is another example of how quickly sentiment can change.
Spot Ethereum ETFs Follow The Recovery
The rebound was not limited to Bitcoin-based funds. Spot Ethereum ETFs also recorded investor interest midweek, breaking what would have become a six-week streak of consecutive outflows.
For the week, Spot Ethereum ETFs finished with a net inflow of $80.46 million. Although smaller in scale compared to Bitcoin’s figures, the inflow is the first broader stabilization in crypto ETF sentiment.
Spot Ethereum Weekly Netflows. Source: SoSoValue
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Taken together, the inflows into both Bitcoin and Ethereum ETFs indicate that institutional appetite may be rebuilding after several weeks of consecutive withdrawals. Whether this is the beginning of a sustained recovery or a short-term relief bounce will also depend on broader market conditions and how current geopolitical tensions resolve in the weeks ahead.
Featured image from Unsplash, chart from TradingView
The US-based spot Ethereum ETFs (exchange-traded funds) have registered a second consecutive week of capital outflows. This negative trend comes on the back of what has been a disappointing price performance by the second-largest cryptocurrency in October. Following months of significant capital influx, the Ethereum ETFs seem to be in a cool-off period, with a shift in investor sentiment also seemingly in play.
US Ethereum ETFs Post $93.6 Million Outflow
According to the latest market data, the US Ethereum ETF market registered a daily total net outflow of $93.6 million on Friday, October 24. This negative closing performance marked the third straight day of outflows for the crypto-linked investment products.
Interestingly, BlackRock’s iShares Ethereum Trust (with the ticker ETHA) was the only ETH exchange-traded fund that recorded a negative outflow on the day. The largest Ethereum ETF by net assets lost nearly $101 million in value to close the week.
Meanwhile, Grayscale Ethereum Mini Trust (with the ticker ETH) was the only other spot ETH exchange-traded fund that saw any trading activity on Friday. Data from SoSoValue shows that the Ether-linked investment product witnessed a capital influx of $7.4 million.
Source: SoSoValue
This negative $93.6 million performance compounded what had been a disappointing week for the US Ethereum ETFs, growing the current outflow streak to three straight days. Meanwhile, this daily performance brought the ETF’s weekly record to around $243.9 million total net outflow.
What’s more worrying is that this is the second consecutive weekly outflow for the Ethereum ETFs for the first time since April, signaling reduced investor appetite. Demand for the exchange-traded funds, which has been quite a bright spot for Ethereum in recent weeks, seems to now be waning.
Ethereum Price Overview
It is difficult to dissociate the performance of the US Ethereum ETFs from the price action of the underlying asset. This direct relationship can be spotlighted from last week’s performance, as the price of Ethereum struggled to get going in the last seven days.
While this sluggish condition has been a general concern for the crypto market, the large-cap assets seem to have it worse at the moment. The Ethereum price, for instance, has particularly struggled to recover and hold above the psychological level of $4,000.
As of this writing, the price of ETH stands at around $3,950, reflecting a mere 0.7% leap in the past 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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After a horrendous start to the year, the United States-based spot Ethereum ETFs (exchange-traded funds) have managed to turn their fortune around over the past few weeks. This positive trend mirrors the shift in sentiment amongst Ethereum investors since the start of the year’s second quarter.
Ethereum ETFs Hit 15 Consecutive Days Of Capital Inflows
According to data from SoSoValue, the US Ethereum ETFs registered a net inflow of $25.22 million on Friday, June 6. This latest daily performance marked the 15th straight day of capital inflows — the second-longest such streak since launch in July 2024 — for exchange-traded funds.
BlackRock’s iShare Ethereum Trust (with the ticker ETHA) accounted for the majority of the inflows on Friday, posting $15.86 million to close the week. Grayscale’s Ethereum Mini Trust (ETH) was the only other US-based Ethereum ETF fund to record any activity, with a total daily net inflow of $9.37 million.
This $25.22 million single-day performance brought the total net weekly inflow to a little over $281 million in the past week, representing the fourth consecutive week of capital influx for the Ethereum-based products. In the previous trading week (May 26 to May 30), the Ethereum ETFs posted a similar $285.84 million total net inflow.
Source: SoSoValue
According to market data, the US-based spot Ethereum ETFs have registered $856.81 million in total net inflows over the span of these four weeks. Ultimately, these positive performances show a change in the way investors are looking at Ethereum at the moment.
Unsurprisingly, this positive shift in investor sentiment has been reflected in the price performance of ETH over the past few weeks. The altcoin has witnessed renewed interest and demand, with its value up by more than 15% in the last 30 days.
As of this writing, the Ethereum price stands at around $2,521, reflecting an over 1% in the last 24 hours. According to data from CoinGecko, the altcoin’s value is down by 0.8% in the last seven days.
Inflows For Bitcoin ETFs Slowing Down
The spot Bitcoin ETFs in the US also had their own streak going for the majority of the last month before it ended on Friday, May 29. The crypto-linked financial products have had a mixed performance of daily inflows and outflows since then.
According to data from SoSoValue, the Bitcoin exchange-traded funds recorded a net outflow of $128.81 million in the past week. On Friday, the BTC ETFs saw a total of $47.82 million withdrawn, bringing the trading week to a close on a negative note.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from iStock, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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