Bitcoin and Ethereum ETF Flows Shifted Last Week: Here’s What You Missed

The spot exchange-traded funds tracking the performance of the largest cryptocurrency by market cap turned red once again in the past five trading days, with just one day recording more net inflows than outflows.

Although the ETH ETFs broke a five-week green streak, their net withdrawals were significantly less violent than those of the Bitcoin counterparts.

BTC ETFs Back in Red

CryptoPotato reported last weekend that the Bitcoin ETFs had registered their best week since April in terms of net inflows, with more than $850 million entering the funds. This was in stark contrast with the previous few months, in which withdrawals dominated, and the rare occasions of net inflows were quite modest.

As such, hope returned within the cryptocurrency community that the late Q2 ETF slumber is over and investors have finally shifted their behavior. However, the second full week of August didn’t provide the necessary confirmation. Just the opposite; the funds bled out almost $390 million.

Monday was the most painful day, with $144.67 million leaving the funds. Another $61.16 million was withdrawn on Wednesday, $131.13 million on Thursday, and $57.63 million on Friday. The only positive day was Tuesday, but the actual $4.89 million was nowhere near enough to offset any of the losses.

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