During the week of Feb. 17 to 21, bitcoin ETFs experienced a net outflow of $559 million, marking the second consecutive week of declines. In contrast, ether ETFs saw a modest net inflow of $1.6 million during the same period.
ETF Weekly Recap: Bitcoin ETFs See Consecutive Week of Outflows With $559 Million Exit
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Another Week of Significant Outflows for Bitcoin ETFs
U.S. spot bitcoin exchange-traded funds (ETFs) continued to feel the market strain with another week of significant outflows. The trading week between Feb. 17 to Feb. 21 saw spot bitcoin ETFs record a net outflow of $559.41 million, marking a second consecutive week of fund declines.
Conversely, ether ETFs offered a glimmer of optimism with a modest net weekly inflow of $1.6 million, suggesting marginal investor interest in ether-based assets.
Delving into the specifics, several bitcoin ETFs bore the brunt of the outflows with Fidelity’s FBTC experiencing a substantial net weekly outflow of $165.51 million. Ark 21Shares’ ARKB faced outflows totaling $107 million while Bitwise’s BITB recorded a $105 million reduction in assets.
Grayscale’s GBTC and BTC funds saw weekly net outflows amounting to $93.6 million and $61.1 million respectively. Amid these downturns, Vaneck’s HODL stood out as a rare positive, attracting a net inflow of $4.31 million.
On the ether ETFs front, the dynamics were slightly more encouraging with Fidelity’s FETH leading the pack with a net weekly inflow of $26.32 million. However, Grayscale’s ETHE experienced outflows totaling $15.79 million and Bitwise’s ETHW also faced challenges, with outflows amounting to $8.92 million.
Throughout the week, bitcoin ETFs endured outflows on four out of five days, highlighting a negative sentiment among investors. In contrast, ether ETFs managed to secure inflows on three days, suggesting a quiet but existing confidence in ether ETFs.
