Bitcoin ETFs shed $463M in weekly reversal as Ether ETFs gain $197M
ARKB, GBTC and IBIT led Bitcoin ETF withdrawals, while BlackRock’s ETHA pushed Ether ETFs into weekly inflows.
In a surprising turn of events, Bitcoin exchange-traded funds (ETFs) experienced a $463 million weekly reversal, marking a shift from three consecutive weeks of inflows. This decline was driven by prominent Bitcoin ETFs such as ARKB, GBTC, and IBIT. On the other hand, Ether ETFs, led by BlackRock's ETHA, saw nearly $197 million in net inflows, reversing the weekly flow.
The withdrawals were documented across all four trading sessions from Tuesday to Friday, following a period of robust three-week inflows that ended abruptly. The selling intensified on Thursday, with US spot Bitcoin ETFs recording a daily withdrawal of $282.7 million, their largest since July, before slowing down to $13.2 million on Friday.
Despite this negative streak, spot Bitcoin ETFs remained in positive territory for September, accumulating $307.3 million in net inflows through Friday. Conversely, US spot Ether ETFs recorded $196.9 million in net inflows over the same period. The Ether funds initially experienced volatility, reflecting a mix of inflows and outflows throughout the week, but the momentum turned positive on Friday with a net inflow of $216.4 million.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
