The past week has been a rollercoaster ride for Bitcoin and Ethereum ETFs, with significant inflows and outflows impacting the market. The week began with high volatility, leading to a negative note for spot Bitcoin ETFs as nearly $240 million left the market. The trend continued as $168.4 million was withdrawn from the ETFs, with Grayscale’s GBTC, Ark Invest’s ARKB, and Fidelity’s FBTC leading the pack in outflows.
Tuesday saw another red day, with $148.6 million worth of outflows. FBTC took the lead this time with $64.5 million, while GBTC followed closely behind with $32.2 million. Interestingly, BlackRock’s IBIT did not see any activity during these turbulent days. However, Wednesday brought some positivity with inflows of $52.5 million, and Thursday saw even more significant inflows of $157.6 million. These were the only positive days of the week, with outflows returning on Friday with $89.7 million, primarily led by Grayscale.
Overall, the spot Bitcoin ETFs experienced outflows of $167 million for the week, despite BTC’s price fluctuations. The cryptocurrency’s price fell below $50,000 during the market crash on Monday but rebounded to over $60,000 by the end of the week, showcasing the resilience of the market against growing outflows.
Ethereum ETFs Performance
Since their launch in July, spot Ethereum ETFs have struggled to gain substantial traction from investors. However, the past week brought a glimmer of hope as Monday and Tuesday started with inflows of $48.8 million and $98.4 million, respectively. BlackRock’s ETHA led the way with $47.1 million and $109.9 million inflows, making it one of the better days for Ethereum ETFs.
Despite some outflows on Wednesday, Thursday, and Friday, totaling $42.4 million, the overall weekly numbers for Ethereum ETFs ended in the green. This marked the first week of positive flows, with nearly $105 million entering the market. ETH’s price reflected this trend, dropping to $2,100 on Monday but recovering to $2,700 by Friday and surpassing $2,600 by the end of the week.
The volatile market conditions have significantly impacted both Bitcoin and Ethereum ETFs, with investors navigating through uncertain times. While outflows prevailed for Bitcoin ETFs, Ethereum ETFs showed signs of potential growth and investor interest. As the market continues to fluctuate, only time will tell how these trends will evolve in the coming weeks.
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