Bitcoin ETF Inflows Reversed Amid Hawkish Speech, Ethereum Funds Extend Streak
Bitcoin ETFs saw significant inflows for the ninth consecutive day before the streak was snapped on Friday, according to recent data. The spot Bitcoin exchange-traded funds attracted over $900 million during the week, with investors inserting around $337.56 million on Monday and another $314.37 million on Tuesday. However, this trend was reversed on Friday after Kevin Warsh's hawkish speech at Jackson Hole, resulting in net outflows of $201.81 million.
Despite this setback, the week still ended well for Bitcoin ETFs, with a total of $924.48 million in net inflows over the period. This brings the cumulative total to nearly $54.63 billion since August 14. Ethereum funds, on the other hand, continued their impressive streak, attracting just over $102 million on Friday and extending their run without a red day since August 11.
The underlying asset's price has seen significant growth, rising from $1,900 to over $2,500 within the same timeframe. The cumulative total net inflows for Ethereum funds are now up to nearly $13 billion, with Thursday being the most notable day for inflows at around $234.51 million.