After a week of substantial net outflows, Bitcoin spot ETFs saw a minor reprieve on Friday. However, Ethereum ETFs extended their losing streak to seven consecutive days, continuing a difficult February.
After eight consecutive days of net outflows , some in an extreme manner, spot Bitcoin ETFs finally saw some relief on Friday. However, the same cannot be said about the Ethereum counterparties, as they extended their negative streak to seven days in a row. February didn't enjoy February, which turned out to be the worst month in terms of net outflows since their inception over a year ago.
The second part of the month was particularly brutal, with no day registering a triple-digit net inflow since February 7th. In fact, only two trading days since that date have been in the green, while the remaining 12 were deep in the red. The biggest net withdrawals came on February 25th when $1.138.9 billion left the funds. The two surrounding dates – 24th and 26th – were also deep in the red, with $539 million and $754.9 million exiting, respectively. After another $275.9 million was withdrawn on Thursday (Feb 27th), the tables finally turned on Friday with $94.3 million in net inflows. Despite this minor glimpse of hope, though, the week still ended deep in the red, with $2,614.1 billion having left the Bitcoin ETFs. Ethereum ETFs had a slightly different trajectory this month as they even registered some consecutive days of net inflows from February 13th to February 19th, granted there were three non-trading days within this timeframe. However, their streak was halted on February 20th, and they have bled out each trading day since. The past week alone saw $78 million taken out on Monday, $50.1 million on Tuesday, $94.3 million on Wednesday, $71.2 million on Thursday, and $41.9 million on Friday. Overall, the week ended well in the red, with $335.5 million leaving the funds. ETH’s price performance was quite similar to that of BTC, as the asset is now down by over 20% on a weekly scale. Moreover, it dipped toward $2,000 for the first time in several months but managed to defend that level, at least for now
Bitcoin Etfs Ethereum Etfs Net Outflows Cryptocurrency Market Price Performance
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