Overview of Recent ETF Flows
The US Bitcoin Spot ETFs have experienced a resurgence in market inflows following an extended period of overwhelming withdrawals amid a deep price correction. The positive netflows recorded last week represent the first in six trading weeks, five of which resulted in total net outflows valued at $3.8 billion. Notably, the rebound in ETF inflows is independent of Bitcoin’s choppy price action, indicating that institutional investors may be building positions for a potential market recovery.
Bitcoin Spot ETFs End February on Red Note Despite Late Surge
According to data from SoSoValue, investors deposited an excess of $787.31 million in the Bitcoin Spot ETFs between February 23 and 27, representing a positive ending to a rather turbulent trading month. Despite this late market rally, February still reported total net outflows of $206.52 million, representing the fourth consecutive negative monthly performance.
With respect to the last trading week, BlackRock’s IBIT recorded a staggering net deposit of $502.99 million, accounting for a significant portion of investors’ bullish activity. The undisputed market leader now boasts total cumulative net inflows of $61.81 billion within 28 trading months. Interestingly, Grayscale’s GBTC emerged as a distant runner-up with aggregate inflows of around $89.43 million, and remains the third largest Bitcoin Spot ETF with net assets of $10.29 billion.
Meanwhile, Bitwise’s BITB also recorded a standout performance with net inflows of $68.30 million, representing its first in three trading weeks. Fidelity’s FBTC, Grayscale’s BTC, Ark Invest/21 Shares, and VanEck’s HODL also experienced significant net deposits, ranging between $19 million to $34 million. On the other hand, Invesco’s BTCO and Franklin Templeton’s EZBC registered minimal net inflows of around $2-3 million, while Hashdex’s DEFI, WisdomTree’s BTCW, and Valkyrie’s BRRR reported zero netflows.
At the time of writing, the total cumulative netflows of the Bitcoin Spot ETFs are $54.80 billion, while total net assets are now valued at $83.40 billion, representing 6.36% of the Bitcoin market cap. Meanwhile, Bitcoin continues to trade at $66,504.55, reflecting a 3.82% gain in the past day.
Ethereum Spot ETFs Record First Green Performance in 6 Weeks
Alongside their Bitcoin counterparts, the Ethereum Spot ETFs also experienced a turnaround in investor activity over the last week. More data from SoSoValue shows these investment funds registered a total netflow of $80.46 million, to terminate a five-week negative streak that began in mid-January. Total cumulative inflows for the Ethereum ETFs are now valued at $11.60 billion, while net assets are estimated at $10.96 billion.
