Bitcoin and Ethereum funds experience best week of inflows in months

US investors showed increased demand for spot bitcoin ETFs throughout the trading week, with more than $1 billion flowing into the 11 US-based such funds.

Interestingly, interest in its ethereum spot counterparts has also increased, as they recorded their second best week since their launch in July.

Over $1 Billion in bitcoin ETFs in One Week

cryptopotato reported last weekend on rising net inflows into spot bitcoin ETFs, especially after the US Federal Reserve cut interest rates on September 18. The last five days have only intensified this trend, even though the picture on Monday looked quite modest, with just $4.5 million in net inflows.

However, investors accelerated their efforts in the following days, especially on Thursday and Friday. After $136 million and $105.9 million in net inflows on Tuesday and Wednesday, investors poured in $365.7 million on Thursday and a whopping $494.4 million on Friday, which became the biggest day for ETFs since early June.

What's particularly interesting about the massive inflows on Thursday and Friday is that the biggest beneficiary was Ark Invest's ARKB, with $113.8 million and $203.1 million, respectively. Fidelity's FBTC and BlackRock's IBIT followed with $74 million and $93.4 million on September 26 for both and $123.6 million and $110.8 million on September 27, respectively.

Overall, net inflows for the entire week for all spot bitcoin ETFs amounted to $1,106.5 billion. bitcoin-etf-flow-all-data/” data-wpel-link=”external” target=”_blank”>according to the far side. This makes it the most positive week since mid-July.

Within this time frame, btc price jumped to a multi-month high of $66,500 before retracing roughly a thousand dollars today.

ethereum ETFs are on the rise

As mentioned repeatedly before, ethereum spot ETFs had failed to attract much attention since their launch in July. However, there are some signs that the trend could change soon.

The trading week beginning September 23 began with massive outflows worth over $79 million. However, investors changed strategy in the following days, with net inflows of $62.5 million on Thursday, $43.2 million on Wednesday and $58.7 million on Friday. Withdrawals of less than $0.1 million were recorded on Thursday.

As such, ethereum spot ETFs recorded $85.2 million in net inflows for the entire week, making them the second-best since they began trading on US stock exchanges in July. The record still belongs to the period between August 5 and 9.

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