Bitcoin ends losing streak with record numbers, Ethereum sees mostly outflows

bitcoin’s two-week losing streak came to an end on Monday as net inflows over the past five-day trading period soared to more than $400 million.

The same cannot be said for spot ethereum ETFs, as the products keep disappearing and have little to no real demand.

btc Spot ETFs Are Back in the Game

Cryptopotato Last week, bitcoin spot ETFs suffered their longest losing streak, seeing net outflows of roughly $900 million between Aug. 26 and Sept. 6. In that time, the underlying asset’s price plummeted sharply, from over $65,000 to under $53,000.

However, on Monday investors changed their minds and broke the streak with $28.6 million in net inflows. The rest of the week was even better, with $117 million entering the funds on Tuesday, $39 million on Thursday and a whopping $263.2 million on Friday. In fact, this became the best day in terms of net inflows since July 22, when the figure stood at $485.9 million.

The only red day last week was Wednesday, with $43.9 million in net outflows. As a result, total inflows for the week amount to $403.9 million. bitcoin-etf-flow-all-data/” data-wpel-link=”external” target=”_blank”>according to FarSide. Perhaps as expected, the price of btc spiked over 10% within this time frame and reclaimed $60,000 earlier today.

Curiously, BlackRock’s IBIT (the top ETF with nearly $21 billion in assets under management) saw no real inflows. It was in the red on Monday, for the third time in its history, with $9.1 million in net outflows, and it saw no reportable action at the end of the week.

Fidelity’s FBTC, on the other hand, led the pack with $28.6 million on Monday, $63.2 million on Tuesday and more than $102 million on Friday. Ark Invest’s ARKB also had a strong weekend finish with $99.3 million in net inflows after seeing $54 million in withdrawals on Wednesday.

<img class="aligncenter size-full wp-image-341790" src="data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMjAxIDcyMCIgd2lkdGg9IjEyMDEiIGhlaWdodD0iNzIwIiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjA2JTJGQml0Y29pbl9FVEZfRmlkZWxpdHktMS5qcGciIGRhdGEtdz0iMTIwMSIgZGF0YS1oPSI3MjAiIGRhdGEtYmlwPSIiPjwvc3ZnPg==" data-spai="1" alt="Fidelity bitcoin ETF” width=”1201″ height=”720″/>

Lack of interest in ethereum ETFs

Another trading week has passed in which ethereum spot ETFs failed to attract any real demand from investors. On the contrary, the overall figures are back in the red, with $5.2 million eth/” data-wpel-link=”external” target=”_blank”>taken on Monday, 0.5 million on Wednesday and 20.1 million on Thursday.

Tuesday's $11.4 million net inflows and Friday's $1.5 million could not offset the figures from the other days. As a result, ethereum ETFs recorded another week of net outflows (-$12.9 million).

However, the more worrying story here again is that investors are not showing the same level of conviction as with their bitcoin spot counterparts.

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