Bitcoin Rebounds With $403M Inflows, Ethereum Faces Outflows

Bitcoin’s two-week negative trend came to a close on Monday, as net inflows for the previous five days surged beyond $400 million.

In contrast, the spot Ethereum ETFs have continued to struggle, experiencing consistent outflows and a lack of genuine demand.

Spot BTC ETFs Regain Momentum

CryptoPotato reported last week on the extended negative trend that the spot Bitcoin ETFs experienced, with net outflows reaching approximately $900 million between August 26 and September 6. During this period, the price of the underlying asset saw a significant drop, plummeting from over $65,000 to below $53,000.

Nonetheless, on Monday, investors reversed this trend, resulting in net inflows of $28.6 million. The improvement continued throughout the week with $117 million flowing in on Tuesday, $39 million on Thursday, and an impressive $263.2 million on Friday. This marked the highest net inflow day since July 22, when it reached $485.9 million.

The only down day during the past week was Wednesday, which saw $43.9 million in net outflows. Overall, the total inflows for the week amounted to $403.9 million, according to FarSide. Not surprisingly, BTC’s price surged by over 10% during this time, reclaiming the $60,000 mark earlier today.

Interestingly, BlackRock’s IBIT (the leading ETF with close to $21 billion in AUM) experienced no actual inflows. It registered net outflows of $9.1 million on Monday, marking just the third instance in its history, and there were no notable actions by the week’s end.

In contrast, Fidelity’s FBTC led the way with $28.6 million on Monday, followed by $63.2 million on Tuesday and over $102 million on Friday. Ark Invest’s ARKB also closed the week strongly, accumulating $99.3 million in net inflows after experiencing $54 million in withdrawals on Wednesday.

Ethereum ETFs Struggle for Interest

Another week has passed, and the spot Ethereum ETFs once again failed to generate meaningful demand from investors. Instead, the overall statistics showed a decline, with $5.2 million redeemed on Monday, $0.5 million on Wednesday, and $20.1 million on Thursday.

The $11.4 million in net inflows on Tuesday and $1.5 million on Friday were insufficient to counterbalance the negative figures from the other days. Consequently, the Ethereum ETFs ended the week with total net outflows of -$12.9 million.

Nonetheless, the more troubling aspect is the noticeable difference in conviction among investors compared to their spot Bitcoin counterparts.