Bitcoin ETFs See $744 M In Inflows After 5 Weeks Ethereum Still Bleeding
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After weeks of net outflows, spot Bitcoin exchange-traded funds (ETFs) in the U.S have finally ended their outflows, bringing a bullishness into the market with a strong inflow of $744.4 million the highest in eight weeks. Meanwhile, Ethereum ETFs continue to struggle, marking their fourth consecutive week of outflows.
Bitcoin Breaks 5 Weeks Outflow
According to SoSoValue, Bitcoin ETFs recorded net inflows of $744.4 million last week, the highest in nearly two months. This inflow of funds comes at a time when investors are cautiously optimistic about the markets recovery
Leading the surge was BlackRocks iShares Bitcoin Trust (IBIT), which pulled in $537.5 million, followed by Fidelitys Wise Origin Bitcoin Fund (FBTC) with $136.5 million. This came after the volatile February month, when over $5 billion was withdrawn from ETFs.
Many big investors sold their holdings because the market was unstable and the economic outlook was unclear. Earlier this year, Bitcoin ETFs recorded record inflows, reaching $1.96 billion in mid-January and $1.76 billion the following week. This influx helped push Bitcoin to an all-time high of $109,000 on January 20.
However, a market correction later pulled BTC down to the $78,000 range. Now, with fresh inflows, Bitcoin has bounced back to $87,343, signaling renewed investor confidence.
Ethereum ETFs Continue to Struggle
While Bitcoin ETFs are experiencing a strong recovery, Ethereum-based funds remain under pressure. Last week, Ether ETFs saw net outflows of $102.89 million, extending their losing streak to four weeks. BlackRocks iShares Ethereum Trust ETF (ETHA) was hit the hardest, recording $74 million in outflows.
Despite these struggles, theres a positive note for Ethereum. BlackRocks BUIDL fund, which focuses on tokenized real-world assets, now holds a record $1.15 billion worth of ETH, up from $990 million just a week ago. This suggests that institutional interest in Ethereums long-term potential remains strong.
Despite the continuing outflow, Ethereum price has recorded an outflow of almost 10% hiting a more bullish outflow.
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Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
