Bitcoin ETFs See $463 Million Weekly Exit While Ether ETFs Gain $197 Million
Bitcoin ETFs reverse three-week trend with $463 million in outflows
US spot Bitcoin exchange-traded funds (ETFs) saw $462.7 million leave the market last week, ending a three-week period where investors were consistently adding money. Exchange-traded funds are investment tools that trade on stock exchanges, allowing people to invest in assets like Bitcoin without having to buy or store the digital currency themselves.
While Bitcoin funds saw money leaving, Ether ETFs moved in the opposite direction. These funds recorded nearly $197 million in net inflows over the same four-day trading period. This shift highlights a divergence in how investors handled the two largest cryptocurrencies last week.
Key performance data for the week
- Bitcoin ETFs recorded their largest single-day withdrawal since July on Thursday, with $282.7 million leaving the funds.
- Despite the weekly losses, Bitcoin ETFs remain in positive territory for September with total net inflows of $307.3 million.
- Ether ETFs ended the week with a strong performance on Friday, drawing in $216.4 million.
- BlackRock’s Ether fund was the primary driver for the positive weekly total for Ethereum-based ETFs.
Performance details for individual funds
Several major Bitcoin funds saw significant withdrawals between Tuesday and Friday. The ARK 21Shares Bitcoin ETF led the weekly losses with $234.2 million in outflows. Grayscale’s Bitcoin Trust followed with $129.1 million in withdrawals. Even the largest fund, BlackRock’s iShares Bitcoin Trust, saw $52.5 million leave, while Fidelity’s fund lost $50.7 million.
The Ether market showed a different pattern. Although the week started with mixed results, Friday saw a massive surge of interest. BlackRock’s iShares Ethereum Trust led the way on Friday with $148.8 million in new investments, followed by the 21Shares Core Ethereum ETF, which added $29.1 million.
Why these fund movements matter
The flow of money into or out of ETFs is often used as a sign of how institutional and traditional investors feel about the crypto market. The reversal in Bitcoin flows suggests a cooling period after a strong three-week run of growth. Conversely, the high interest in Ether ETFs toward the end of the week suggests renewed buyer interest in Ethereum as an alternative investment to Bitcoin.