US spot Bitcoin exchange-traded funds recorded their second consecutive week of net inflows, marking the first back-to-back weekly gains in five months.
Spot Bitcoin (BTC) ETFs attracted roughly $568.45 million in net inflows this week, according to data from SoSoValue. The products also posted positive flows of about $787.31 million the previous week, showing renewed investor appetite after several weeks of sustained outflows.
Before the recent turnaround, US spot Bitcoin ETFs endured a prolonged period of investor withdrawals, recording roughly $3.8 billion in cumulative outflows over a five-week streak. The biggest weekly withdrawal during the streak occurred in the week ending Jan. 30, when spot Bitcoin ETFs recorded about $1.49 billion in net outflows.
Bitcoin ETFs see inflows for second consecutive week. Source: SoSoValueDaily flows were mixed during this week. Spot Bitcoin ETFs recorded inflows of $458.19 million on Monday, followed by $225.15 million on Tuesday and a larger $461.77 million on Wednesday. The momentum reversed in the final sessions, with the funds seeing $227.83 million in outflows on Thursday and $348.83 million in redemptions on Friday.
Related: US Bitcoin ETFs Post $462 Million Inflows as BTC Tops $73K
Ether ETFs see weekly inflows
US spot Ether (ETH) ETFs also recorded their second consecutive week of net inflows. The funds attracted roughly $23.56 million in net inflows for this week after posting $80.46 million in inflows the previous week, , marking their first back-to-back weekly gains since early October last year.
Before the rebound, spot Ether ETFs faced a sustained withdrawal streak, recording more than $1.38 billion in cumulative outflows across five consecutive weeks. The largest weekly outflow occurred during the week ending Jan. 23, when the funds recorded roughly $611 million in net redemptions.
Meanwhile, the funds saw mixed results throughout the latest reporting week. They recorded $38.69 million in inflows on Monday, followed by $10.75 million in outflows on Tuesday. Inflows returned on Wednesday with $169.41 million, but the momentum faded later in the week.
Related: Bitcoin Whales Shift Billions Into ETFs Like BlackRock’s IBIT
Bitcoin ETFs match 15 years of gold ETF inflows in 2 years
In a Saturday post on X, Fernando Nikolić, Blockstream’s director of marketing, noted that Bitcoin ETFs have already matched roughly 15 years of cumulative inflows seen by gold ETFs in less than two years, despite gold having a decade-and-a-half head start in the ETF market.
Spot Bitcoin ETFs vs gold ETFs. Source: Fernando NikolićNikolić added that the milestone occurred during a 46% Bitcoin drawdown and several months of negative price performance, arguing that institutional demand remained strong even amid market weakness.
“Anyone still arguing about whether bitcoin is ‘digital gold’ is wasting their breath,” he wrote. “Bitcoin isn’t trying to be gold. Bitcoin is making gold look slow,” he added.
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Source: https://cointelegraph.com/news/spot-bitcoin-etfs-second-weekly-inflows-five-months-ether-etfs-rebound?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
