US Spot Bitcoin ETFs Log $301 Million Weekly Inflows, Snapping Two-Week Outflow Streak
Key Takeaways
- •US spot Bitcoin ETFs posted approximately $301 million in net inflows last week, ending a two-week streak of outflows that had totaled about $228 million and $680 million.
- •Inflows of $1.08 billion arrived between Monday and Wednesday as Bitcoin reached $84,777, but roughly $774 million was pulled out on Thursday and Friday as the price retreated toward $80,000.
- •DWF Labs research found net outflows in seven of the eight Bitcoin sell-offs of 15% or more since the ETFs launched in January 2024, indicating holders tend to sell into weakness rather than buy dips.
- •Bitcoin traded at $80,025 at the time of publication, down about 3.3% over seven days, while the Crypto Fear & Greed Index fell to a neutral reading of 50 from 59 a week earlier.
- •US spot Ether ETFs shed about $221 million last week, their fourth consecutive week of net outflows, according to Farside Investors data.
US-listed spot Bitcoin exchange-traded funds (ETFs) took in approximately $301 million in net inflows last week, ending a two-week streak of outflows despite heavy withdrawals in the closing days of the trading week.
The result marks a turnaround from the two preceding weeks, in which the products shed roughly $228 million and $680 million, respectively. October's cumulative net outflows stand at about $314 million, according to Farside Investors data.
Flows were heavily front-loaded. The Bitcoin funds drew $1.08 billion between Monday and Wednesday as Bitcoin (BTC) climbed to a weekly high of $84,777 on Wednesday, according to CoinGecko. As BTC then retreated toward $80,000, investors withdrew about $774 million on Thursday and Friday, giving back most of the earlier gains.
The tendency of ETF holders to sell into weakness was documented in research published Thursday by market maker DWF Labs. The firm found that net outflows occurred during seven of the eight Bitcoin sell-offs of at least 15% recorded since US spot Bitcoin ETFs launched in January 2024, when the US Securities and Exchange Commission approved the first such products. The funds have since been closely watched as an indicator of institutional demand for the asset.
“ETF investors aren't the dip buyers people think they are,” DWF said. Last week's front-loaded flows — inflows concentrated during the rally, withdrawals on the retreat — tracked that pattern.
At the time of publication, Bitcoin traded at $80,025, down around 3.3% over the past seven days. The Crypto Fear & Greed Index slipped to a “Neutral” reading of 50, down from “Greed” at 59 a week earlier. The index measures crypto market sentiment on a scale from 0, indicating “Extreme Fear,” to 100, indicating “Extreme Greed.” The coming week's flow tallies from Farside Investors will offer the next read on whether the rebound extended into the new trading week.
Ether ETF flows remained negative as well. US spot Ether ETFs posted their fourth consecutive week of net outflows, shedding about $221 million last week, according to Farside Investors data.
Source: Cointelegraph
