Bitcoin ETFs Surge to $924M as Ethereum Funds Extend 17-Day Inflow Streak

Bitcoin exchange-traded funds (ETFs) saw significant net inflows last week, totaling $924.48 million, despite a pullback on Friday sparked by Federal Reserve Chairman Kevin Warsh's hawkish speech at Jackson Hole.

The strong week for Bitcoin ETFs comes after a prior week where nearly $2 billion was invested in the asset class, driven by a shift in US Treasury Department monetary policy.

Ethereum funds also continued their streak of daily net inflows, reaching 17 days without a single red day since August 11. They attracted over $824 million in net inflows last week.

The convergence between Bitcoin and Ethereum ETF flows is notable, as Ethereum demand has typically trailed behind Bitcoin's. However, this trend may be shifting, with institutional investors becoming more willing to allocate capital to the altcoin.