ETF Weekly Recap: Red Week for Bitcoin and Ether ETFs With Net Outflows of $581.23 Million and $26.3 Million

CN
2 months ago

Bitcoin and ether exchange-traded funds (ETFs) had a negative trading week between Feb. 10 to Feb. 14. The 12 U.S. spot bitcoin ETFs lost a combined $581.23 million with Fidelity’s FBTC seeing the largest net weekly outflow of $282.12 million.

This market downturn was marked by four consecutive days of outflows, briefly interrupted by a single day of inflows. In parallel, ether spot ETFs experienced a net outflow of $26.3 million over the same period, with Grayscale’s ETHE carrying the brunt of the outflows with a $56.46 million exit over two days of outflows and three days of inflows.

The substantial outflow from bitcoin ETFs suggests a cautious sentiment among investors, possibly influenced by recent market volatility and macroeconomic uncertainties. Despite a last-weekday inflow, the prevailing trend indicates a preference for risk aversion in the current conditions.

Conversely, ether ETFs demonstrated a more balanced activity. The three days of inflows, although outweighed by the outflows, hint at a segment of investors maintaining confidence in ether’s potential. This mixed behavior could be attributed to ether’s ongoing network developments and upcoming upgrades, which continue to attract interest despite broader market apprehensions.

As of Feb. 17, BTC‘s price stands at $96,167, reflecting a slight decrease of 0.9% from the previous close. ETH is trading at $2,747, marking a modest gain of 2.1%. These price movements align with the observed ETF flows, where bitcoin’s decline corresponds with significant outflows, while ether’s resilience is mirrored by its relatively stable ETF activity.

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