Bitcoin and Ethereum funds turn the corner, but there's a problem

bitcoin and ethereum spot ETFs broke the negative streak recorded last week and ended the current one with net inflows.

However, the situation around eth ETFs is quite disappointing, to say the least, once again.

bitcoin ETF Demand Is Back

CryptoPotato reported last weekend on the dire picture regarding net flows into the 11 US-based spot bitcoin ETFs. After eight consecutive days of net inflows, the situation had changed and more than 274 million dollars abandoned the products throughout the week.

However, Monday started on a very positive note, with $235.2 million flowing into the funds in the form of net inflows. Fidelity's FBTC and BlackRock's IBIT led the pack, with $103.7 million and $97.9 million, respectively.

Investors changed their behavior over the next three days, with net outflows of $18.6 million on Tuesday, $40.6 million on Wednesday and $81.1 million on Thursday. However, the trading week ended on Friday on the right foot, with another net inflow of $253.6 million. FBTC bitcoin-etf-flow-all-data/” data-wpel-link=”external” target=”_blank”>was at the forefront once again with $117.1 million, while Ark Invest's ARKB did the same with $97.6 million.

Consequently, the overall figures for the week stood at $348.5 million in net inflows. Friday's events coincided with or perhaps fueled a substantial rally for btc, which jumped from Thursday's low of $58,800 to a weekly high of $63,400 before retreating slightly to its current level of $62,500.

The capture of eth

ethereum spot ETFs also ended the week slightly in the green. Despite $8.1 million withdrawn on Tuesday and $0.1 million on Friday, Thursday's net inflows of $10.1 million managed eth/” data-wpel-link=”external” target=”_blank”>compensate the losses.

However, a closer look at the total numbers actually confirms a previous narrative that demand for eth ETFs is simply lacking. On Monday and Wednesday, no reportable flows were recorded. This, combined with an earlier article this week comparing the first 79 days of trading for ethereum ETFs to the initial months of btc ETFs, solidifies the notion that investors are showing little to no interest in the second-largest cryptocurrency. big.

Still, eth price also recovered from Thursday's drop and is up 2% for the week. Currently, the asset is trading near $2,450, which is about $100 higher than the weekly low.

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