Bitcoin ends negative streak with record numbers, Ethereum sees mostly exits

Bitcoin’s two-week losing streak ended on Monday, while net inflows over the past five trading days soared to more than $400 million.

The same cannot be said for spot Ethereum ETFs, as the products continue to bleed and see little to no real demand.

Find BTC ETFs in progress

CryptoPotato reported last week the longest negative streak that Bitcoin ETFs were in, as they saw roughly $900 million in net outflows from August 26th to September 6th. .

However, investors changed their view on Monday, snapping the streak with $28.6 million in net inflows. The rest of the week was even better, with $117 million entering the funds on Tuesday, $39 million on Thursday and $263.2 million on Friday. In fact, this became the best day in terms of net receipts since July 22, when the number stood at $485.9 million.

The only day in the red last week was Wednesday, with $43.9 million in net outflows. As a result, total receipts for the week stand at $403.9 million, according to FarSide. Perhaps to be expected, the price of BTC soared over 10% in that time frame and recovered $60,000 earlier today.

Interestingly, BlackRock’s IBIT (the ETF leader with nearly $21 billion in AUM) saw no real inflows. It was in the red for just the third time in its history on Monday, with $9.1 million in net outflows, and saw no reportable action by the end of the week.

Instead, Fidelity’s FBTC led the pack with $28.6 million on Monday, $63.2 million on Tuesday and more than $102 million on Friday. Ark Invest’s ARKB also had a strong end to the week with $99.3 million in net inflows after seeing $54 million in withdrawals on Wednesday.

Ethereum ETF has no interest

Another week of trading passed in which Ethereum ETFs did not attract any real demand from investors. In stark contrast, the overall numbers are back in the red, with $5.2 million withdrawn on Monday, $0.5 million on Wednesday and $20.1 million on Thursday.

Tuesday’s $11.4 million in net receipts and $1.5 million on Friday failed to make up for the other days’ numbers. As a result, Ethereum ETFs posted another week of net outflows ($-12.9 million).

However, the more worrying story here again is that investors are not showing the same level of conviction as they do with Bitcoin’s one-time counterparts.

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