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ZEC $1,327 Bitcoin ETFs notch third inflow week as Ether ETFs shed $138M
US spot Bitcoin ETFs pulled in $241.1 million last week for a third straight weekly inflow, while Ether ETFs lost $138 million.
Key takeaways
- Bitcoin extends streak. Bitcoin ETFs took in $241.1 million last week, a third straight weekly inflow, lifting cumulative net inflows to $57.8 billion.
- Ether flips negative. Ether ETFs recorded $138 million in net outflows after attracting $690 million the week before, though year-to-date net inflows remain at about $1.5 billion.
- Zcash's first outflow. Zcash funds shed about $94 million, their first weekly outflow on record, while Solana ETFs added $2.4 million and XRP ETFs added $4.7 million.
What happened
US spot Bitcoin ETFs recorded a third straight week of net inflows, attracting $241.1 million last week, according to SoSoValue data. That lifted cumulative net inflows to $57.8 billion since launch. Ether ETFs moved the other way, recording $138 million in weekly net outflows after attracting $690 million the week before. Even so, Ether ETFs remain positive for the year, with year-to-date net inflows at about $1.5 billion.
The inflows came as Bitcoin traded at about $86,200, up 3.7% over the past seven days, according to CoinGecko. Ether traded at about $2,727, up 3% over the same period. Zcash funds posted their first weekly outflow on record, shedding around $94 million. Solana and XRP ETFs extended their inflow streaks with $2.4 million and $4.7 million, respectively.
Why it matters
The split shows investors favoring Bitcoin products over Ether products in the latest week. Bitcoin ETFs added money for a third consecutive week, while Ether ETFs flipped to outflows during a week when Ether's price rose. That suggests fund flows and price moves can diverge for Ether.
Flows are a gauge of institutional sentiment. Bitcoin ETF inflows totaled $241.1 million last week and $2.4 billion in one of the two preceding weeks. Cumulative net inflows at $57.8 billion reflect sustained demand since launch.
The broader market mood cooled slightly. The Crypto Fear & Greed Index remained in 'Greed' territory at 70, down from 74.
Bitcoin miner Javi Q wrote on X that the move was mainly driven by softer-than-expected U.S. jobs data, which reduced bets on a Fed rate hike, along with a return of positive flows into spot Bitcoin ETFs.
What the data shows
Bitcoin ETFs attracted $241.1 million last week, lifting cumulative net inflows to $57.8 billion. They added $2.4 billion and $6.2 million in the two preceding weeks, with year-to-date net inflows now around $1.2 billion.
Ether ETFs recorded $138 million in weekly net outflows after attracting $690 million the week before. Their year-to-date net inflows stood at about $1.5 billion.
On Oct. 2, Bitcoin ETF net inflows were $189 million, led by BlackRock's iShares Bitcoin Trust. The fund contributed about $158.2 million for the week, the largest share. Fidelity Wise Origin Bitcoin Fund pulled in $29.3 million, while MSBT attracted $2.4 million.
Background
Spot Bitcoin ETFs hold actual Bitcoin rather than futures contracts. They let investors gain exposure through a regular brokerage account. Spot Ether ETFs work the same way, with each fund holding Ether directly on behalf of its shareholders.
Questions readers ask
How much did Bitcoin ETFs attract last week?
US spot Bitcoin ETFs attracted $241.1 million in net inflows last week, their third straight weekly inflow, according to SoSoValue data. Cumulative net inflows reached $57.8 billion.
Why did Ether ETFs see outflows?
Ether ETFs recorded $138 million in net outflows last week after attracting $690 million the week before. Even with the outflows, they remain positive for the year with about $1.5 billion in year-to-date net inflows.
What happened to Zcash ETFs?
Zcash funds posted their first weekly outflow on record, shedding around $94 million.
What was the Crypto Fear & Greed Index reading?
Alternative.me's Crypto Fear & Greed Index remained in 'Greed' territory at 70, down from 74.
