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ZEC $1,334 Crypto ETF flows split as Bitcoin gains $82.9m, Ethereum bleeds
U.S. spot crypto ETF flows diverged for the week of September 28 to October 2, with Bitcoin products posting net inflows and Ethereum products recording net
Key takeaways
- Bitcoin inflows fell sharply. Bitcoin ETF net inflows dropped from $2.39 billion the prior week to $82.9 million for the week ending October 2.
- Ethereum posted net outflows. Ethereum ETFs recorded $118 million in net outflows, reversing $689.8 million in inflows from the prior week.
- Solana inflows slowed. Solana ETF net inflows fell to $800,000 from $188.1 million the prior week, while Hyperliquid added $3.4 million.
What happened
U.S. spot crypto ETF flows diverged sharply for the week of September 28 to October 2, according to data from Farside Investors. Spot Bitcoin ETFs recorded provisional net inflows of $82.9 million for the period, a steep decline from the $2.39 billion in net inflows posted in the prior week. By contrast, spot Ethereum ETFs recorded $118 million in net outflows, reversing the $689.8 million in net inflows they saw the week before. Smaller crypto ETFs also posted mixed performance: Solana ETFs brought in $800,000 in net inflows, down sharply from $188.1 million the prior week, while Hyperliquid ETFs added $3.4 million and Zcash's tracked fund lost $77.6 million.
Why it matters
The split flows highlight shifting investor sentiment toward major crypto assets. Bitcoin's continued inflows, even at a reduced pace, follow the asset's spot ETFs flipping year-to-date net flows positive in late September, after months of outflows earlier in the year. Ethereum's return to outflows, meanwhile, marks the second time in three weeks that the asset's spot ETFs have posted weekly net redemptions, following a strong inflow week in late September. The divergence also underscores that investor appetite for different crypto assets remains uneven, even as overall crypto ETF adoption grows.
What is still unclear
- Weekly net flow totals for Bitcoin and Ethereum ETFs remain provisional, as BlackRock's IBIT, ETHA and ETHB Friday flow data was not yet available when Farside Investors published its figures on October 3.
Questions readers ask
What were Bitcoin ETF flows for the week of September 28?
U.S. spot Bitcoin ETFs recorded provisional net inflows of $82.9 million for the week of September 28 to October 2, per Farside Investors data. This was down sharply from $2.39 billion in net inflows the prior week.
Why did Ethereum ETFs see outflows in early October?
Ethereum ETFs posted $118 million in net outflows for the week of September 28 to October 2, reversing $689.8 million in inflows from the prior week. This marked the second weekly outflow period in three weeks for the asset's spot ETFs.
How did Solana ETF flows change week over week?
Solana ETFs recorded $800,000 in net inflows for the week of September 28 to October 2, down sharply from $188.1 million in net inflows the prior week.
