Key Points
- US spot Bitcoin ETFs experienced net weekly outflows, breaking a six-week inflow streak.
- Spot Ethereum ETFs also recorded weekly outflows, despite gaining investor interest.
Spot Bitcoin exchange-traded funds (ETFs) in the US saw a shift in trend as they experienced net weekly outflows over the last week, ending a six-week streak of inflows which had brought in over $5 billion.
Bitcoin ETFs Outflows
Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded $585.65 million in net weekly outflows for the week ending Feb. 14, breaking the inflow streak that had accumulated over $5 billion.
The week started with $186.28 million in outflows on Feb. 10, and continued with outflows of $56.76 million, $251.03 million, and $157.78 million over the next three trading days. However, the funds ended the week with a slight positive swing, recording a modest $66.19 million in net inflows.
Major Contributors
Fidelity’s FBTC saw the majority of the day’s inflows, with $94.04 million entering the fund, ending its negative flow streak over the previous four trading days. FBTC is the second-best-performing Bitcoin (BTC) fund, with $12.5 billion in cumulative net inflows since its launch.
BlackRock’s IBIT followed with an inflow of $22.26 million, while Bitwise’s BITB and Grayscale’s mini Bitcoin Trust also contributed to the positive momentum, recording inflows of $7.99 million and $6.46 million, respectively.
On the outflows side, Grayscale’s GBTC saw $46.95 million in exits, bringing its cumulative net outflows to a substantial $22.01 billion. ARK 21Shares’ ARKB and VanEck’s HODL also posted modest losses of $13.19 million and $4.43 million, respectively.
At the time, Bitcoin (BTC) was down 2.4% over the past week, trading at $95, 652 per coin.
Ethereum ETFs Outflows
In contrast, the nine spot Ethereum (ETH) ETFs recorded $26.26 million in weekly outflows for the week ending Feb. 14. Despite gaining traction with investors recently, ETH funds appear to be building momentum.
Similar to BTC, ETH funds ended the week on a positive note with a modest $11.65 million in net inflows, all of which flowed into Fidelity’s FETH, while the other funds saw zero flows on the day.
At the time of writing, Ethereum (ETH) was trading at $2,685, down only 0.3% over the past week.