Spot Bitcoin and Ethereum Exchange Traded Funds (ETFs) experienced net inflows last week, signaling a recovery after prolonged periods of outflows. Notably, Ethereum ETFs attracted more capital than their Bitcoin counterparts, indicating stronger recent performance.
Last week, Spot Bitcoin ETFs recorded net inflows totaling $75.67 million. This marks a turnaround from an eight-week streak of substantial withdrawals, during which the funds lost over $8 billion in approximately two months. Prior to this recovery, cumulative net inflows for Spot Bitcoin ETFs had decreased from $59.34 billion to $51.08 billion before recovering to $51.35 billion as of July 17.
While Monday saw a net outflow of $424.66 million for Spot Bitcoin ETFs, investor behavior shifted in the subsequent days. Data from SoSoValue shows that fresh capital flowed into the funds, with inflows of $181 million on Tuesday, $107.8 million on Wednesday, $79.15 million on Thursday, and $132.30 million on Friday. This cumulative activity resulted in positive net inflows for the week.
Spot Ethereum ETFs also demonstrated a positive trend, attracting $105.44 million in net inflows last week, surpassing Bitcoin ETFs. This performance builds on the previous week’s inflows of $84.42 million. Similar to Bitcoin ETFs, Ethereum ETFs had experienced an eight-week period of outflows, losing over $1.1 billion in cumulative net inflows, which fell from $12.09 billion to $10.89 billion. Following two consecutive weeks of positive inflows in mid-July, the cumulative net inflows for Spot Ethereum ETFs rose to $11.08 billion.
Last week, Spot Ethereum ETFs saw a modest net outflow of $15.41 million on Monday and $28.04 million on Thursday. However, these were offset by net inflows of $58.34 million on Tuesday, $53.83 million on Wednesday, and $36.73 million on Friday.
The recent shift from sustained outflows to net inflows for both Bitcoin and Ethereum ETFs may suggest a change in investor sentiment. While both asset classes are showing signs of recovery, the stronger performance of Ethereum ETFs in the past week indicates a potential short-term preference. However, the long-term sustainability of this recovery remains uncertain, as do the precise impacts of external factors on daily fund flows.
Why This Matters
The materials describe a narrow update: Spot Bitcoin ETFs recorded net inflows of $75. The long-term sustainability of the recent recovery for Bitcoin ETFs.
Broader Context
Source materials place the factual news in this context: After a violent eight-week streak with nothing but substantial withdrawals, the spot Bitcoin ETFs changed their course in the middle of July and now extended their recovery period with another green performance.
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