US spot bitcoin ETFs log $3 billion in weekly inflows, a 5-month high following BTC price spike
Quick Take U.S.-based spot bitcoin ETFs took in over $3 billion worth of new capital last week as cryptocurrency prices recovered across the board. The weekly inflow level was the highest recorded in 5 months, and the second-highest of all time. Spot Ethereum ETFs saw their first net positive weekly inflows since February.
As crypto prices recovered last week, U.S.-based spot bitcoin ETFs logged over $3 billion worth of inflows, the highest such value since November, 2024, while their Ethereum equivalents logged the first net weekly inflows since February.
Friday marked the sixth straight day of net inflows for the bitcoin funds, according to SoSoValue data , with BlackRock's IBIT logging $240 million worth of inflows and Fidelity's FBTC taking in $108 million. Together, the two funds accounted for 92% of all inflows on Friday.
The inflow streak led to a total of over $3 billion in inflows last week, the best week for the funds since mid-November, bringing the total value of their assets to nearly $110 billion. The weekly inflow level was the second-highest of all time, and the second to cross the $3 billion mark.
IBIT is close to accumulating 3% of all BTC supply, currently sitting at 2.97%, according to SoSoValue data. "If this is the trajectory of greater uncertainty around the world, things like gold and Bitcoin should continue to go up," BlackRock's U.S. Head of Equity ETFs, Jay Jacobs, told CNBC on Thursday . "People are looking for those assets that will behave differently."
The inflows follow BTC's recent rise in price from its April lows around $75,000 to its current value around $95,000. The price of BTC is down about 1.2% in the past 24 hours, according to The Block's Bitcoin Price page .
Ethereum ETFs break negative streak
The rise in the crypto market also benefitted U.S.-based spot Ethereum ETFs, which broke an 8-week streak of net negative outflows last week with $157 million worth of inflows, according to SoSoValue data . However, with the overall declining price of ETH this year, the funds hold less than half of their overall value at the start of the year.
ETH is currently trading around $1,800, according to The Block's Ethereum Price page , down about 0.7% in the past 24 hours. The largest spot ETH ETF, ETHA (likewise a BlackRock fund), only holds about 1% of all ETH.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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