Significant Shift in ETF Flows: Bitcoin Down, Ether Up
- US spot Bitcoin ETFs experienced $462.7 million in net outflows last week.
- The outflows followed three consecutive weeks of inflows totaling $166.8 million.
- On Thursday alone, Bitcoin ETFs saw their largest daily withdrawal since July, totaling $282.7 million.
- In contrast, US spot Ether ETFs recorded nearly $197 million in net inflows over the same period.
- Despite recent outflows, Bitcoin ETFs remain positive for September with about $307.3 million in net inflows through Friday.
The recent trends indicate a notable shift in investor sentiment, with significant withdrawals from Bitcoin ETFs contrasting sharply with the robust inflows into Ether ETFs. This divergence highlights changing market dynamics and investor preferences within the cryptocurrency space.
Overall, Bitcoin ETFs faced a challenging week with $462.7 million in outflows while Ether ETFs gained momentum with nearly $197 million in inflows.(Source)
