Spot Bitcoin ETFs See First Weekly Outflows in Six weeks
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced net outflows last week, ending a six-week streak of inflows that amassed over $5 billion. Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded $585.65 million in net outflows for the week ending Feb. 14.
The week started poorly, wiht $186.28 million in outflows on Feb. 10. This trend continued over the next three trading days. However, the week ended on a positive note with $66.19 million in net inflows.
Fidelity’s FBTC ETF attracted the most inflows, with $94.04 million entering the fund. This ended its four-day negative streak. FBTC is the second-best-performing BTC fund, with $12.5 billion in cumulative net inflows since launch.
- BlackRock’s IBIT saw $22.26 million in inflows.
- Bitwise’s BITB and Grayscale’s mini Bitcoin Trust added $7.99 million and $6.46 million, respectively.
On the flip side, Grayscale’s GBTC saw $46.95 million in exits, bringing its cumulative net outflows to $22.01 billion. ARK 21Shares’ ARKB and VanEck’s HODL also posted losses.
Bitcoin’s price was down 2.4% over the past week, trading at $95,652 per coin. Nine spot Ethereum ETFs recorded $26.26 million in weekly outflows. However, they ended the week with $11.65 million in net inflows, all flowing into Fidelity’s FETH.
Ethereum was trading at $2,685, down only 0.3% over the past week.
