Bitcoin and Ethereum funds see best entry week in months

US investors showed growing demand for spot Bitcoin ETFs throughout the trading week, with more than $1 billion flowing into the 11 US-based funds.

Interestingly, interest in their Ethereum spot counterparts has also increased as they posted their second best week since going public in July.

Over $1 billion in Bitcoin ETFs in one week

CryptoPotato reported increasing net inflows into spot Bitcoin ETFs last weekend, especially after the US Federal Reserve cut interest rates on September 18. The past five days have only intensified that trend, though the picture on Monday looked pretty modest, with just $4.5 million in net receipts.

However, investors stepped up their efforts in the following days, especially on Thursday and Friday. After $136 million and $105.9 million in net inflows on Tuesday and Wednesday, investors poured in $365.7 million on Thursday and a whopping $494.4 million on Friday, which became the best day for ETFs since early June.

What’s particularly interesting about the massive inflows on Thursday and Friday is that the biggest gainer was Ark Invest’s ARKB, with $113.8 million and $203.1 million, respectively. Fidelity’s FBTC and BlackRock’s IBIT were close behind with $74 million and $93.4 million on September 26 for both and $123.6 million and $110.8 million on September 27. respectively.

Overall, net inflows for the entire week for all spot Bitcoin ETFs came in at $1.106.5 billion, according to FarSide. That makes it the most positive week since mid-July.

Within that time frame, BTC price jumped to a multi-month high by itself at $66,500 before pulling back around a thousand today.

Ethereum ETFs are on the rise

As mentioned repeatedly before, local Ethereum ETFs had not attracted much attention since their launch in July. However, there are some signs that the trend could change soon.

The trading week that began on September 23 began with massive outflows of more than $79 million. However, investors changed their strategy in the following days, with $62.5 million in net inflows on Thursday, $43.2 million on Wednesday and $58.7 million on Friday. Withdrawals of less than $0.1 million were recorded on Thursday.

As such, Ethereum spot ETFs saw net inflows of $85.2 million for the entire week, making it the second best since they went live on US exchanges in July. The record still belongs to the period between August 5 and 9.

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