Bitcoin ETFs achieve consecutive weekly gains for the first time since October
For the first time in five months, spot Bitcoin exchange-traded funds in the United States have recorded net inflows for two weeks running, breaking an extended period of withdrawals.
Exchange-traded funds tracking spot Bitcoin in the United States have registered net inflows for two weeks in a row, representing the first instance of consecutive weekly positive flows in a five-month period.
According to information from SoSoValue, the spot Bitcoin (BTC) ETF products drew approximately $568.45 million in net inflows during the most recent week. The funds had also registered positive flows totaling around $787.31 million in the week prior, demonstrating a resurgence of investor interest following multiple weeks of continuous outflows.
Prior to this recent reversal, the US spot Bitcoin ETF market experienced an extended phase of investor redemptions, accumulating approximately $3.8 billion in total outflows throughout a five-week period. The most substantial weekly withdrawal during this period happened in the week that concluded on Jan. 30, when the spot Bitcoin ETF products saw approximately $1.49 billion in net outflows.
Throughout the week, daily flow patterns varied considerably. The spot Bitcoin ETF market registered inflows totaling $458.19 million on Monday, which was followed by $225.15 million on Tuesday and an even stronger $461.77 million on Wednesday. However, the positive trend shifted during the latter part of the week, as the products experienced $227.83 million in outflows on Thursday and $348.83 million in redemptions on Friday.
Ether ETFs see weekly inflows
Spot Ether (ETH) exchange-traded funds in the United States similarly achieved their second week in a row of net inflows. These products garnered approximately $23.56 million in net inflows during the current week following $80.46 million in inflows the week before, representing their first consecutive weekly gains since the beginning of October in the previous year.
Leading up to this recovery, the spot Ether ETF market experienced a prolonged period of withdrawals, accumulating over $1.38 billion in total outflows spanning five straight weeks. The most significant weekly outflow took place during the week that ended on Jan. 23, when these products saw approximately $611 million in net redemptions.
Throughout the most recent reporting period, the products experienced varying daily performance. The funds registered $38.69 million in inflows on Monday, which was then followed by $10.75 million in outflows on Tuesday. Positive inflows made a comeback on Wednesday with $169.41 million, though the upward momentum diminished as the week progressed.
Bitcoin ETFs match 15 years of gold ETF inflows in 2 years
In a post shared on X on Saturday, Fernando Nikolić, who serves as Blockstream's director of marketing, observed that Bitcoin ETF products have already equaled approximately 15 years of accumulated inflows experienced by gold ETF products in a period of less than two years, notwithstanding the fact that gold enjoyed a decade-and-a-half advantage in the ETF marketplace.
Nikolić further noted that this achievement transpired during a 46% Bitcoin drawdown alongside several months of unfavorable price action, contending that institutional appetite continued to demonstrate resilience even throughout periods of market turbulence.
"Anyone still arguing about whether bitcoin is 'digital gold' is wasting their breath. Bitcoin isn't trying to be gold. Bitcoin is making gold look slow."