Bitcoin ETFs Turn Green, But Ethereum ETFs See Net Outflows

The spot Bitcoin ETFs have turned the tables for the year, with net flows turning green, but there are some concerning signs. The past three weeks have been quite different for the funds. The spot BTC ETFs had their best five-day trading performance in nearly a year during the last full week of September, attracting 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 week of September 28 began with another $31.07 million in net inflows, followed by $66.19 million on Tuesday. The tables turned on Wednesday as investors pulled out $148.69 million. This was rather surprising since the PCE data came out on that day and showed that inflation was lower than expected. Nevertheless, the net inflows returned on Thursday with $102.67 million.

The spot Ethereum ETFs, on the other hand, started the business week on the right foot but quickly lost momentum. After the $17.10 million in net inflows on Monday, withdrawals took charge with $2.81 million on Tuesday, $59.58 million on Wednesday, $55.37 million on Thursday, and another $17.3 million on Friday. Consequently, the week ended with net outflows of approximately $114 million.