The US-based spot Bitcoin ETFs have continued their impressive performance by attracting nearly $1 billion in inflows over the past week. In contrast, spot Ethereum ETFs are struggling, with outflows dominating the market.
Following a significant inflow of $2.18 billion in October’s third week, Bitcoin ETFs have maintained their momentum, with a total weekly inflow of $997.70 million. Notably, the largest inflow of $402.08 million occurred on Friday, October 25, largely driven by BlackRock’s IBIT.
BlackRock attracted $291.96 million, while Fidelity’s FBTC and Ark & 21 Shares’s ARKB saw inflows of $56.95 million and $33.37 million, respectively. Other contributors included Bitwise’s BITB, Grayscale’s BTC, and VanEck’s HODL.
Overall, spot Bitcoin ETFs have amassed over $3 billion in inflows during the last eleven trading days, a significant indicator of institutional interest according to crypto analyst Michaël van de Poppe.
Conversely, spot Ethereum ETFs continue to face challenges, with weekly outflows of $24.45 million and a total outflow of $504.44 million since July 26. Ethereum ETFs’ net assets currently amount to $6.82 billion.
The current trading prices for Bitcoin and Ethereum are $67,077 and $2,484, respectively. Despite minor declines, Bitcoin is showing signs of potential breakout according to analysts.
