Bitcoin Spot ETF Outflows Reach $138M After 7-Week Inflows

Key Points:

• Bitcoin Spot ETF Outflows reached $138M last week, breaking a 7-week streak of inflows, while BlackRock IBIT achieved $405M inflows.
• Ethereum ETFs outpaced Bitcoin Spot ETF Outflows, with $467M in total inflows led by BlackRock ETHA at $300M and Fidelity FETH at $120M.

Bitcoin Spot ETF Outflows hit $138M last week after 7-week inflows, while BlackRock IBIT saw $405M inflows. Ethereum ETFs recorded $467M in total inflows.

Bitcoin Spot ETF Outflows Break 7-Week Inflow Streak

Last week, the Bitcoin Spot ETF had its first net outflow of $138 million following seven weeks of net inflows. Despite this outflow, BlackRock’s IBIT ETF saw $405 million in weekly inflows, demonstrating investor trust in the leading provider.

Ethereum saw stable inflows over this period, whereas Bitcoin ETFs were volatile. According to Sosovalue, this reversal is attributed to market variables, including Bitcoin price swings and macroeconomic worries affecting investor mood.

Read more: Spot Bitcoin ETF Buying Hits 3rd Highest Monthly Since Launch

Ethereum ETFs Lead with Strong Inflows Amid Bitcoin Outflows

Ethereum spot ETF inflows were $467 million, while Bitcoin spot ETF outflows were $138 million. BlackRock’s ETHA topped net inflows with $300 million, followed by Fidelity’s FETH with $120 million. These numbers show investor interest in Ethereum-based ETFs.

Ethereum’s large inflows show its importance in the expanding crypto sector. Its application in decentralized finance (DeFi) and Ethereum 2.0 scalability enhancements have boosted trust, analysts say. Contrasting Bitcoin, institutional investors’ diversified preferences are highlighted.