Bitcoin ETFs Notch Third Inflow Week as Ether ETFs Revert to Net Outflows
Bitcoin exchange-traded funds (ETFs) have recorded a third consecutive week of net inflows, a trend that began in the previous two weeks. The funds attracted $241.1 million last week, bringing the cumulative net inflows to $57.8 billion, according to SoSoValue data. This is a significant development, considering the funds had added $2.4 billion and $6.2 million in the two preceding weeks. The year-to-date net inflows now stand at around $1.2 billion.
On the other hand, Ether ETFs have flipped back to net outflows, recording $138 million in weekly net outflows after attracting $690 million the week before. The year-to-date net inflows for Ether ETFs stand at about $1.5 billion.
Other altcoin ETFs have also seen notable movements. Zcash funds posted their first weekly outflow on record, shedding around $94 million, while Solana and XRP ETFs extended their inflow streaks with $2.4 million and $4.7 million, respectively.
The crypto market sentiment has also softened, with Alternative.me's Crypto Fear & Greed Index remaining in 'Greed' territory at 70, down from 74. This indicates a slight decrease in investor enthusiasm, but the index still suggests a level of greed in the market.