Bitcoin ETFs are back in the green! After a rough start to the fourth quarter, spot Bitcoin ETFs saw a massive influx of cash last week, totaling over $308 million. This is a welcome change after the market experienced a net outflow of $300 million in the first week of October.
Bitcoin ETFs: A Rollercoaster Week
The week started strong with $236 million flowing into Bitcoin ETFs on Monday. However, the market took a dip for the next three days, with a total of $179 million flowing out.
But Friday brought a major turnaround, with a record $253 million pouring into Bitcoin ETFs. This surge was largely driven by Fidelity’s FBTC, which attracted $117 million. Ark & 21 Shares ARKB also saw a significant inflow of $97 million, while Bitwise’s BITB garnered $38 million.
Other notable inflows:
- VanEck’s HODL: $14 million
- Invesco’s BTCO: $8 million
BlackRock’s IBIT saw no inflows, and Grayscale’s GBTC actually experienced a net outflow of $22 million.
Ethereum ETFs Still Struggling
While Bitcoin ETFs are seeing a resurgence, Ethereum ETFs continue to struggle. Last week, they saw a net outflow of $5.2 million, marking the 10th week of negative returns in the past 12.
However, the outflows were significantly lower than the previous week, which saw a $25 million outflow.
The total net outflow for Ethereum ETFs is now $558 million.
Bitcoin and Ethereum Prices
At the time of writing, Ethereum is trading at $2,459, up 0.78% in the last day. Bitcoin is valued at $62,725, up 0.22% in the same period.
