Solid Week for Bitcoin, Ethereum Funds, But Warning Signs Appear: ETF Roundup

Since the US presidential election in the middle of last week, Bitcoin ETFs have enjoyed a massive demand trend with a couple of days of entry of more than $1 billion before a slight change in investor tactics.

Spot Ethereum ETFs also had some standout days, but ended the week in the red.

Billions go into BTC ETFs

Investors took a cautious approach to spot Bitcoin ETFs before the US election, but piled in after the dust settled. As reported last week, net inflows over the full three trading days after it was announced that Trump would be the next president were close to $2.3 billion.

The trend continued this trading week, with $1.114 billion entering the funds on Monday. The positive figures for Tuesday and Wednesday were $817.5 million and $510.1 million. As such, total inflows since the election soared to nearly $5 billion in about a week.

However, that’s where the picture changed, as investors pulled out $400.7 million on Thursday and $239.6 million on Friday. Consequently, the business week ended with a massive net inflow of $1.801.4 billion, but questions were raised due to two consecutive days in the red on Thursday and Friday.

Within that time frame, the price of BTC soared to $93,800 on Wednesday, where it hit its latest all-time high and recovered in the following days to coincide with ETF fund allocations.

The bright side is that BlackRock’s IBIT, the world’s largest BTC ETF, continues to attract funds with seven consecutive days of net inflows.

Now 7 days in a row of entries for the iShares Bitcoin ETF (IBIT)…

Almost $3.4 million.

For context, this $3.4 million exceeds the *lifetime* inflows for all other ETF launches in 2024 except FBTC.

That’s out of 615 new ETFs.

IBIT is now approaching $30 billion in total receipts.

ridiculous

— Nate Geraci (@NateGeraci) November 16, 2024

ETF ETH Also in the green

Spot Ethereum ETFs also had a strong week; in fact, the best of all, especially the first three days. In them, funds posted $295.5 million in net inflows on Monday, $135.9 million on Tuesday and $146.9 million on Wednesday.

While the trend also reversed on Thursday and Friday, with small outflows of $3.2 million and $41.2 million, respectively, the week ended well in the green. This puts the figure for the week at $533.9 million, which now means Ethereum ETFs are in the green for the first time.

The price of ETH peaked during the week around $3,500, but has lost about $400 since then and now stands at $3,100.

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