This week, Bitcoin and Ethereum ETFs experienced mixed results, according to data reported by Lookonchain today. This coincided with significant declines in the broader crypto markets, fueled by economic factors.
Bitcoin ETFs inflows decreased by 50%
During this week (February 3-7), 10 Bitcoin ETFs recorded net inflows of 3,623 BTC worth $357.03 million, despite experiencing outflows of over $3,293 BTC (worth $324.5 million).
According to data from Lookonchain, iShares’ IBIT contributed to most of the net inflows as it drew in a whopping 6,428 BTC ($633.44 million). It was followed by Ark Investment, which experienced net inflows of 417 BTC ($41 million).
Grayscale’s BTC also recorded net inflows of 43 BTC ($4.2 million) while Vaneck Bitcoin ETF registered a net influx of 28 BTC ($2.7 million).
However, the interesting development was that this week witnessed significantly decreased capital inflows to Bitcoin funds, compared to the previous one. During the last week (Jan.27–31), a total of 6,661 BTC (equivalent to $698.19 million) entered into Bitcoin ETFs while this week only $357.03 million. The fall signals massive liquidations experienced during this week triggered by macroeconomic concerns and negative sentiment among crypto investors and traders.
Ether ETFs gaining investor interest
The inflows were not limited to Bitcoin. Ethereum ETFs experienced bigger inflows than Bitcoin, drawing in 151,688 ETH ($415.93 million) during this week.
The largest contributor was iShares Ethereum ETF, which attracted 121,544 ETH ($333.27 million). It was followed by Fidelity’s FETH, which recorded inflows of 35,405 ETH ($97.08 million).
Grayscale’s ETH came third with a capital influx of 10,540 ETH ($28.9 million). 21Shares’s CETH secured the fourth spot with inflow of 1,900 ETH ($5.2 million). Other Ethereum ETFs that registered inflows include Bitwise’s ETHW and VanEck’s ETHV as indicated in the data.
Although Ethereum funds are not as prominent as Bitcoin ETFs, this data signals that investors have started embracing them in recent weeks. Since February 3 – 7, Ether funds experienced an increased number of investors who put in net inflows of $415.93 million into them. In the previous week, these funds never recorded capital net inflows.
