The environment surrounding spot Bitcoin ETFs has turned exceptionally optimistic in the last week, with these products seeing inflows exceeding $2 billion.
This marks their strongest five-day trading period since mid-March.
Significant Inflows for BTC ETFs
It’s accurate to note that the past week was substantial for the 11 US-based spot Bitcoin ETFs, with multiple peaks not seen in months, including BlackRock’s most successful day since July on Wednesday. On that day, the total net inflows surpassed $20 billion, continuing to rise as the week progressed, now valued at just over $21 billion, according to Farside data.
The highest inflows for the entire five-day trading span occurred on Monday, with $555.9 million flowing into the funds. Tuesday saw $371 million, followed by $458.5 million on Wednesday, $470.5 million on Thursday, and a more modest $273.7 million on Friday. This culminated in total net inflows reaching $2,132.6 billion for the week, marking the most profitable week since March 11-15, when inflows exceeded $2.5 billion.
On Tuesday, Wednesday, and Thursday, BlackRock’s IBIT led in net inflows, accumulating over $1 billion alone. Other notable gainers this week included Fidelity’s FBTC ($348 million) and Ark Invest’s ARKB ($306.1 million).
Remarkably, there were no net outflows recorded during the week; even Grayscale’s largest fund experienced inflows on Monday, Tuesday, and Thursday.
As expected, the price of the underlying asset surged during this timeframe, rising from $62,500 on Monday to a several-month high of $69,000 on Friday.
Ethereum ETFs Experience Some Interest?
Since their launch in July, spot Ethereum ETFs have struggled to attract significant attention, but the past five trading days showed improvement. Aside from the $12.7 million in net withdrawals on Tuesday, inflow figures were positive for Monday ($17 million), Wednesday ($24.2 million), Thursday ($48.4 million), and Friday ($1.9 million).
As a result, total net inflows amounted to $78.8 million for the week, marking the best performance since August 5-9.
ETH’s price also demonstrated substantial growth over the past few days, rising from $2,450 on Monday to $2,640 currently.
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