Bitcoin exchange-traded funds (ETFs) are seeing some positive movement again, but Ethereum is still the star performer.
Bitcoin ETFs: A Modest Comeback
Last week, Bitcoin spot ETFs saw a net inflow of 3,018 BTC (around $329 million). This is good news after several weeks of outflows. While it’s a small amount compared to previous inflows, it’s a positive sign, especially considering Bitcoin’s recent price dip. This suggests that institutional investors are still interested in Bitcoin, even in a bear market.
[Insert chart showing weekly netflow of Bitcoin ETFs here]
The chart shows that Bitcoin ETF inflows were strong from April to July, but then things turned negative. The recent inflow is a welcome change after three out of the previous four weeks saw outflows.
Ethereum ETFs: Consistently Strong
Ethereum ETFs have been a completely different story. They’ve enjoyed a massive 14-week inflow streak, with some seriously large spikes. Last week saw a temporary dip into negative territory, but this week saw a huge inflow of 286,000 ETH (roughly $1.2 billion). This shows significant institutional investment in Ethereum.
Bitcoin’s Price Dip
Bitcoin’s price has been falling recently, after hitting a new all-time high earlier this month. The price is currently around $109,200.