Bitcoin funds post best week of entry since March

The landscape around Bitcoin ETFs turned very positive last week, with the products attracting more than $2 billion in net inflows.

This has become its best five-day trading period in this regard since mid-March.

Massive BTC ETF Inflows

It’s safe to say it was a big week for all 11 U.S. Bitcoin ETFs at the time, with multiple multi-month highs, including BlackRock’s best day since Wednesday in July. Total net receipts topped $20 billion that day, but continued to climb at the end of the week and are currently worth just over $21 billion, according to Farside data.

Monday saw the most inflows of the entire five-day trading period, with $555.9 million entering the funds. $371 million was invested on Tuesday, $458.5 million on Wednesday, $470.5 million on Thursday and a more modest $273.7 million on Friday. That brought the total value of net receipts to $2.132.6 billion for the week, making it the most lucrative since March 11-15, when the figure was more than $2.5 billion dollars

BlackRock’s IBIT led the pack on Tuesday, Wednesday and Thursday, posting more than $1 billion in net inflows alone. Other big gainers this week included Fidelity’s FBTC ($348 million) and Ark Invest’s ARKB ($306.1 million).

In reality, there were no net outflows throughout the week as even the largest Grayscale fund saw some inflows on Monday, Tuesday and Thursday.

Naturally, the price of the underlying asset gained a lot of value during this period, rising from $62,500 on Monday to a multi-month high of $69,000 on Friday.

Are Ethereum ETFs Seeing Some Demand?

Local Ethereum ETFs haven’t attracted much interest since their launch in July, but the last five trading days have been pretty good for them. Aside from Tuesday’s $12.7 million in net withdrawals, the numbers were positive for Monday ($17 million), Wednesday ($24.2 million), Thursday ($48.4 million) and Friday ($1.9 million ).

Consequently, total net receipts stood at $78.8 million for the week, making it the best since August 5-9.

The price of ETH also posted impressive gains over the past few days, rising from $2,450 on Monday to $2,640 so far.

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