According to new data released today to Lookonchain, US-based Bitcoin and Ethereum ETFs witnessed significant net inflows, with total inflows reaching $697.63 million last week. These massive inflows mark a crucial moment for crypto investment.
Why Grayscale Bitcoin ETFs noted outflows
The data identified that Bitcoin ETFs pulled in $4,475 BTC worth $491.36 million over the past seven days. Most BTC ETFs witnessed positive net inflows over the period, showing continued investor interest in Bitcoin exposure through such investment products.
Data showed that the iShares (Blackrock) Bitcoin Trust remained the major contributor to BTC ETFs’ inflows over the week. iShares’s IBIT drew in a whopping net inflow of +2,979 BTC, indicating robust demand for this specific Bitcoin investment vehicle.
The data further recognized interesting developments in the Grayscale Bitcoin Trust (GBTC) and Grayscale Bitcoin Mini Trust (BTC). The two Grayscale BTC ETFs recorded significant net outflows of -447 BTC and -10 BTC, respectively in the seven days. This signifies that some investors could be moving out of the two Grayscale’s investment products, shifting to other potentially lower-fee, better-rewarding Bitcoin ETFs.
Other spot Bitcoin ETFs associated with Bitwise’s BITB and ARK 21Shares’ ARKB experienced impressive inflows of +713 BTC and +527 BTC, respectively. Others, including Valkyrie’s BRRR and Invesco’s BTCO, witnessed relatively small inflows over the week. However, Franklin’s EZBC was the only Bitcoin ETF that encountered zero net inflow over the period.
Ethereum ETFs recorded mixed results
As reported by the data, Ethereum ETFs attracted 96,059 ETH valued at $206.27 million over the past week. However, the sector displayed a mixed outlook, with some ETFs recording substantial inflows while others witnessing outflows or no change.
iShares (BlackRock) Ethereum Trust led the sector with massive inflows of +90,662 ETH pulled in over the last seven days. This shows robust investor and institutional interest in the iShares’ Ethereum investment product.
Moving down, the two Grayscale Ethereum ETFs attracted notable inflows and outflows over the week. The Grayscale Ethereum Mini Trust (ETH) pulled in incredible inflows of +9,780 ETH while the Grayscale Ethereum Trust (ETHE) encountered substantial outflows of -544 ETH. This indicates a change in Grayscale’s Ethereum offerings, suggesting investors prefer the mini trust.
Other Ethereum ETFs that drew in notable inflows over the week include Franklin’s EZET and Galaxy’s QETH, which pulled in +1,139 ETH and +267 ETH, respectively. However, Bitwise’s ETHW, VanEck’s ETHV, and 21Shares’ CETH were Ether ETFs that encountered zero net inflows over the period.
