Bitcoin ETFs Stage Remarkable Comeback, Turning Year-to-Date Flows Positive
Despite significant outflows recorded in the first half of the year, spot Bitcoin ETFs have managed a dramatic turnaround, now showing positive year-to-date performance.
Ethereum ETFs Recover, Approaching Previous Inflow Peaks
Spot Ethereum ETFs have successfully erased last week’s losses, with cumulative net inflows climbing back to nearly $14 billion.
This week saw a robust start for Bitcoin ETFs, with Monday’s inflows setting a multi-month record as investors poured nearly $1 billion into the funds in a single trading session. While daily inflows moderated towards the end of the week, they remained consistently positive. The funds attracted $714.75 million on Tuesday, followed by $346.98 million on Wednesday, $190.65 million on Thursday, and $134.47 million on Friday.
Consequently, this pivotal week concluded with $2.39 billion in net inflows for spot Bitcoin ETFs, bringing the cumulative total to $57.55 billion. As noted, the year-to-date figures have now turned positive, a scenario that seemed improbable after June. At that point, investors had withdrawn a record $4.51 billion from the funds, following a challenging May which saw net outflows of $2.43 billion. The year-to-date performance for the ETFs was nearly $5.5 billion in the red.
However, the trend shifted significantly in July with modest net inflows of $172 million, followed by a substantial surge in August and September. The ETFs attracted $3.52 billion in August and have gained $2.7 billion so far in September. This recent performance has pushed the year-to-date numbers to a positive $925 million.
Underlying Asset Trails ETF Performance
Despite the strong inflows into Bitcoin ETFs, the underlying asset, Bitcoin, remains approximately 40% below its all-time high. Crypto Rover suggests this divergence may not persist, citing “institutional money is accumulating like never before and has shortened the bear market dramatically.”
A recent post from Crypto Rover highlighted this disparity: “THIS IS INSANE: Bitcoin is still more than 40% away from its all time high. Meanwhile, spot cumulative ETF flows are only 10% away from their all time highs. Institutional money is accumulating like never before and has shortened the bear market dramatically.”
Ethereum ETFs Also See Strong Weekly Gains
Exchange-traded funds tracking Ethereum also experienced a strong start to the business week, garnering nearly $270 million on Monday. These funds maintained positive inflows throughout the following four trading days, concluding the week with $689.88 million in net inflows. This performance effectively offset previous week’s losses and pushed cumulative net inflows to a new multi-month high of $13.94 billion.
In parallel, the price of Ethereum touched $2,800 during the week before experiencing a slight pullback, and is currently trading around $100 lower.
