Another week went by, which began with massive volatility, and the spot Bitcoin and Ethereum ETFs were once again in the spotlight.
Here’s the data regarding the inflows and outflows for the past five days, according to Farside.
Bitcoin ETFs in the Red
Last week ended on a highly negative point as the spot Bitcoin ETFs registered their worst day in terms of flows in about three months, with nearly $240 million leaving the eleven funds. The start of the new week was not all that promising, as $168.4 million was withdrawn from the ETFs. Grayscale’s GBTC led the front with $69.1 million, followed closely by Ark Invest’s ARKB ($69 million) and Fidelity’s FBTC ($58 million).
Tuesday was in the red as well, with $148.6 million worth of outflows. This time, FBTC was at the forefront ($64.5 million), while GBTC was second with $32.2 million. Interestingly, BlackRock’s IBIT saw zero action during these two days.
It wasn’t until Wednesday that IBIT notched 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 entering on Wednesday and $194.6 million on Thursday.
The outflows were back on Friday with $89.7 million. Grayscale had the lion’s share with $77 million. In total, the spot Bitcoin ETFs saw outflows of $167 million for the week.
At the same time, BTC’s price tumbled below $50,000 during the market-wide crash on Monday but shot above $60,000 by the end of the week despite the growing outflows.
Ethereum ETFs With Minor Inflows
Ever since their launch on July 23, the spot Ethereum ETFs have not enjoyed substantial demand from investors. The past week was a bit more positive, however.
Monday and Tuesday began with inflows of $48.8 million and $98.4 million (second-best day), respectively. BlackRock’s ETHA led the pack with $47.1 million and $109.9 million.
Although the landscape changed until the end of the week, and investors pulled $23.7 million on Wednesday, $2.9 million on Thursday, and $15.8 million on Friday, the overall numbers for the week were actually in the green. This became the first week that has seen positive flows of almost $105 million for the Ethereum ETFs.
ETH’s price also tanked on Monday to $2,100 but bounced off in the following days to $2,700 on Friday and just over $2,600 today.
The post Weekly ETF Recap: Here’s What Kind of Action the Bitcoin, Ethereum ETFs Saw appeared first on CryptoPotato.