Bitcoin ETFs Show Resilience with Weekly Inflows Amidst Daily Outflows; Ethereum ETFs Continue Sustained Outflows

Spot Bitcoin ETFs concluded the past week with net inflows totaling $304.77 million, demonstrating resilience despite experiencing significant daily outflows. In contrast, Ethereum ETFs have continued their trend of net outflows for the fourth consecutive week.

The past week presented a mixed picture for Bitcoin ETFs. After initial inflows earlier in the week, including a substantial $526.60 million on Monday and $23.16 million on Tuesday, the trend shifted. Wednesday saw a notable inflow of $528.50 million, coinciding with a Bitcoin price jump to $85,000, its highest in two weeks. However, the latter half of the week saw a reversal, with Thursday recording the highest daily net outflow in four months, exceeding $600 million. Specifically, data from SoSoValue shows Thursday’s outflows reached $635.49 million. Farside data indicates Friday’s outflows for Bitcoin ETFs were $137.9 million. Despite these daily fluctuations, the week’s net inflows kept Bitcoin ETFs in positive territory.

Cumulatively, Bitcoin ETFs saw their total net inflows increase from under $56.9 billion to nearly $57.2 billion by the end of the week.

Ethereum ETFs, however, have been in a sustained outflow period for approximately a month. The past week extended this trend, with a total of $220 million exiting the funds. The outflows began on Monday with $103.28 million, followed by $26.13 million on Tuesday. A slight reprieve occurred on Wednesday with an inflow of nearly $15 million, but outflows resumed on Thursday with $110.50 million. Friday saw a minor inflow of $4.4 million, as reported by Farside. Since late September, Ethereum ETFs have experienced cumulative net outflows exceeding $1.2 billion. As of Friday’s close, their total net inflows stood below $12.75 billion, a decrease from nearly $14 billion at the end of September.

The underlying assets also showed divergent performance. Bitcoin reached $85,000 on Wednesday, while Ethereum experienced a weekly slump of over 4%, struggling to maintain the $2,350 level.

Why This Matters

The divergent trends in Bitcoin and Ethereum ETF flows highlight differing investor sentiment and market dynamics. While Bitcoin ETFs ended the week with positive net inflows despite significant daily outflows, Ethereum ETFs continued to see sustained outflows, indicating a more persistent lack of investor confidence or interest in those products.

Broader Context

Although Thursday saw the highest daily net outflow in four months for Bitcoin ETFs, the funds still managed to end the week in the green. This contrasts with Ethereum ETFs, which have experienced continuous net outflows for four consecutive weeks, underscoring a growing disparity in market sentiment between the two major cryptocurrency-linked ETFs.