Spot Bitcoin ETFs Record $787 Million in Inflows, End 5-Week Consecutive Draw
Spot Bitcoin exchanges have four at last he returned to a beautiful garden after enduring five straight weeks of withdrawals. Data flows show that the week just concluded brought a strong rebound in investor demand, although the recent surge was not enough to fully offset the losses recorded in early February.
Investors Pour $787 Million Into Spot Bitcoin ETFs
In accordance with data from SoSoValue, Spot Bitcoin ETFs posted a combined total of $787.31 million in inflows during the week, which was the first weekly green print after five consecutive weeks of outflows. The reversal was largely driven by three straight days of positive flow on Tuesday, Wednesday, and Thursday, which helped bring the balance back to a positive position.
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Last week’s numbers and the change in momentum show that institutional and ETF-based investors chose last week to move back into Bitcoin. after a long time consecutive exits. However, despite the strong weekly performance, monthly net flows are still completely in the red due to the deep withdrawals that took place at the beginning of the month. As such, February ended with a net outflow of $206.52 million from Spot Bitcoin ETFs.
Spot Bitcoin Weekly Netflows. Source: SoSoValue
The tenacity of ETF owners was also highlighted by crypto pundit Nate Geraci on social media X. He noted that investors in Spot Bitcoin ETFs have largely maintained confidence during the recent Bitcoin decline.
Geraci’s words explaining the recent retreat as modest in the broader context of growth in the asset class as a whole. He pointed out that since Bitcoin reached its record high in early October, Spot Bitcoin ETFs have experienced $6.5 billion in net outflows.
However, he also noted that this figure is small compared to $55 billion that the funds are attractive since they were launched in January 2024. He also reported more than $1 billion in revenue from Tuesday to Thursday, which is another example of how quickly emotions can change.
Spot Ethereum ETFs Track Discovery
The rebound is not limited to Bitcoin-based funds. The Spot Ethereum ETF also recorded investor interest during the week, breaking what would have been a six-week streak of consecutive outflows.
This week, Spot Ethereum ETFs finished with a total inflow of $80.46 million. Although small in scale compared to Bitcoin figures, the revenue is the first broad strengthening of crypto ETF sentiment.
Stock price Spot Ethereum Weekly Netflows. Source: SoSoValue
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Taken together, the inflows into both Bitcoin and Ethereum ETFs indicate that institutional appetite may be rebuilding after several weeks of consecutive pullbacks. Whether this is the beginning of a sustained recovery or a short-term bounce will also happen subject to broader market conditions and the country’s current political tensions resolve in the coming weeks.
Featured image from Unsplash, chart from TradingView
