ETH Inflows As Bitcoin ETF Outflows Hit $475m
US spot Bitcoin ETFs shed more than $475m on Thursday and Friday, snapping a seven-day inflow streak — though early-week strength left them net positive $34m for the week. Ethereum ETFs took in $104m over the same week, roughly triple Bitcoin's net figure, the second straight week ETH products out-drew BTC's.
Same Wrapper, Opposite Flows: ETHA vs IBIT
BlackRock's ETH ETF (ETHA) absorbed $96.3m of inflows last week.
BlackRock's BTC ETF (IBIT) bled $95.5m (including consecutive $202.5m and $212.2m outflow days on Thursday and Friday).
The same wrapper, the same distribution, the same allocator base and a near-perfect mirror image.
This is the second week running net flows have favoured ETH over BTC. This matters not because ETF flows are a reliable signal — they aren't, as I've argued before — but because divergence like this within the same structure points more to rotation than "macro risk-off".
Two caveats before any ETH maxis get excited. Friday saw ETH funds bleed $70.7m too, so the end-of-week selling may simply have reached ETH a day late. And $200m/day redemptions can be a couple of desks unwinding a basis trade rather than allocators repositioning.
You know the start of the week is slow when I start digging into ETF data!
3 sources
- Ether ETFs Pull $104M, Tripling Bitcoin's Weekly Inflows · thedefiant.io · T2
- Bitcoin ETFs Bled Nearly Half a Billion Dollars End of Last Week, Reversing Sentiment · bitcoinmagazine.com · T1
- Bitcoin ETF outflows top $475 million, snapping 7 day inflow streak · en.coin-turk.com · T2