Bitcoin and Ethereum ETF Flows Show Mixed Signals

The past three weeks have been significant for Bitcoin and Ethereum ETFs. The spot Bitcoin ETFs finally turned the tables for the year, with net flows turning green, but there are some concerning signs.

Recall that the spot BTC ETFs had their best five-day trading performance in nearly a year during the last full week of September when they attracted roughly $2.4 billion in net inflows. This helped flip the YTD numbers green, which was difficult to imagine just a few months ago when the funds bled out heavily.

The tables turned on Wednesday as investors pulled out $148.69 million, despite the PCE data coming out and showing that inflation was lower than expected. However, net inflows returned on Thursday with $102.67 million, according to SoSoValue.

Meanwhile, the spot Ethereum ETFs started the business week on the right foot but their momentum quickly faded. After a notable net inflow of almost $690 million in one week that was in the green, the cumulative total net inflows have declined slightly from the recent local peak of $13.94 billion to $13.80 billion.