Another week has passed, which started with massive volatility, and Bitcoin and Ethereum spot ETFs are back in the spotlight.
Here is the data on entries and exits for the last five days, according to Farside.
Bitcoin ETFs in the red
Last week ended on a very negative note, as spot Bitcoin ETFs recorded their worst day in terms of flows in roughly three months, with nearly $240 million leaving the eleven funds. The start of the new week was not all that great. promisingas $168.4 million was withdrawn from ETFs. Grayscale’s GBTC topped the list with $69.1 million, closely followed by Ark Invest’s ARKB ($69 million) and Fidelity’s FBTC ($58 million).
Tuesday also saw losses, with $148.6 million in outflows. This time, FBTC was in the lead ($64.5 million), while GBTC came in second with $32.2 million. Curiously, BlackRock’s IBIT saw no activity during these two days.
It wasn’t until Wednesday that IBIT recorded inflows of $52.5 million and even more ($157.6 million) on Thursday. Those were the only two positive days of the week, with $45.1 million coming in on Wednesday and $194.6 million on Thursday.
Outflows resumed on Friday with $89.7 million. Grayscale took the lion’s share with $77 million. In total, spot Bitcoin ETFs saw outflows of $167 million during the week.
At the same time, the price of BTC fell below $50,000 during Monday’s market plunge, but Shot from above $60,000 at the end of the week despite increasing outflows.
Ethereum ETFs with minor inflows
Since their launch on July 23, Ethereum spot ETFs have not enjoyed substantial demand from investors. However, last week was a bit more positive.
Monday and Tuesday started with entries of $48.8 million and $98.4 million (second best day), respectively. BlackRock’s ETHA He led the pack with $47.1 million and $109.9 million.
Although the picture changed towards the end of the week, with investors withdrawing $23.7 million on Wednesday, $2.9 million on Thursday, and $15.8 million on Friday, the overall numbers for the week were actually positive. This became the first week to see positive flows of nearly $105 million for Ethereum ETFs.
The price of ETH also fell on Monday to $2,100, but bounced in the following days to $2,700 on Friday and just over $2,600 today.
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