This week, crypto markets saw mixed reactions as the US Bitcoin ETFs recorded net inflows while Ethereum spot ETFs registered net outflows. That is according to the latest data reported by Spot on Chain today.
The week saw heightened consolidation within the broader crypto markets. Bitcoin price has been down 4.0% in the seven days making a return to the $94,000 price zone.
Despite the price slump, the US Bitcoin ETFs received a net weekly inflow, positively ending the 6th-10th January week. Interestingly, the US Ethereum spot ETFs recorded a net weekly outflow during the same week.
Spot ETF:
$313.2M to $BTC and
$185.8M to $ETH
Week: 6 to 10 Jan, 2025
The single-day net flows for both BTC and ETH ETFs fluctuated widely this week.
— Spot On Chain (@spotonchain) January 11, 2025
Why Bitcoin spot ETFs registered inflows
As per data from Spot on Chain, the Bitcoin ETFs witnessed total net outflows of $313.2 million on the week of 6th to 10th January 2025. The influx shows a robust bullishness among investors who still are investing in the largest cryptocurrency.
However, these Bitcoin funds witnessed significant net outflows on Thursday and Friday (January 9th and 10th), indicating a change in investor sentiment embracing caution.
According to the data, the Bitcoin investment vehicles recorded a net outflow of $149.4 million on Friday, January 10. Blackrock’s IBIT recorded the largest outflow as investors pulled out $183.6 million from the ETF on Friday. Bitwise became the second after registering an outflow of $1.6 million.
Despite the outflows on Friday, three Bitcoin ETFs (Fidelity, Grayscale, and Ark 21Share) attracted a total inflow of $35.8 million on that day. This highlights that some investors remain bullish about Bitcoin amid the wave of uncertainty in the wider market.
This fluctuation is crucial as it shows the volatility associated with institutional investments in crypto ETFs. However, a total of 11 Bitcoin ETFs ended the week with a net inflow of $313.2 million.
These significant inflows to Bitcoin can be translated as a response to bullish indicators in the wider market or positive news concerning Bitcoin legislation or adoption. Although Bitcoin is currently struggling, investors recognize its potential for tremendous price gains.
Following Trump’s ascent to the US presidency, Bitcoin ETFs and other related crypto markets recorded immense levels of investor demand. User enthusiasm for a crypto-friendly regime led by President Trump played a huge role in this adoption.
Ethereum spot ETFs outflows captured
On the other hand, the US Ethereum ETFs recorded net outflows of $185.8 million during the week that ended on Friday 10th January. The withdrawals may signal profit-taking by investors.
However, such withdrawals might have occurred due to current unstable ETH prices, which possibly influenced investors to decrease their exposure or seek other alternative assets to invest in.
