US spot Ethereum, Bitcoin ETFs log modest outflows following record volume week

U.S.-based spot Bitcoin and Ethereum ETFs logged modest net outflows on Friday, bringing ongoing inflow streaks to an end, despite net inflows into both of BlackRock's industry-leading ETFs. 

The Ethereum ETFs also saw their highest weekly inflows and trading volume yet last week, with their $18.2 billion in volume nearly surpassing the Bitcoin ETFs' $21.2 billion in trading volume. 

BlackRock's IBIT keeps streak alive

On Friday, U.S.-based spot Bitcoin ETFs saw an overall net outflow of $14.13 million, bringing to an end an inflow streak of seven trading days, according to SoSoValue data. The funds' trading volume was also elevated, coming in at the 15th-highest week of 84 total. 

However, IBIT, BlackRock's industry-leading spot Bitcoin ETF, saw a net inflow of $114.4 million on $2.64 billion in volume. $81.8 million in outflows from Grayscale's GBTC and $46.7 million in outflows from Ark & 21Shares' ARKB were just enough to turn the overall number negative. No other spot Bitcoin ETFs logged significant net inflows or outflows, according to the data. 

BlackRock's IBIT continues to have assets under management (AUM) more than twice the size of its nearest competitor, Fidelity's FBTC fund. Fidelity's fund recently amassed 1% of the total market capitalization of Bitcoin in its fund, according to SoSoValue data. 

Spot Ethereum ETFs see record volume week

U.S.-based spot Ethereum ETFs logged their highest trading volume week on record last week, with $18.2 billion worth of value trading hands. Last week was the closest the funds came to surpassing the volume of the Bitcoin funds, which saw $21.2 billion in volume. 

The funds also logged their highest weekly inflows on record, with the funds taking in $2.9 billion worth of additional capital. 

Similarly to the Bitcoin side, while the funds overall saw a net outflow of $59.3 million on Friday, BlackRock's industry-leading ETHA fund scored an inflow of $338.1 million, which was offset by $272.2 million in outflows from Fidelity's FETH, $101.7 million in outflows from Grayscale's ETHE, and modest outflows from Bitwise's ETHW, Grayscale's ETH, and 21Shares' CETH, according to SoSoValue data. 

Friday's inflows bring BlackRock's ETHA to a ten-day inflow streak, with the fund now holding $15.7 billion in AUM, 2.9% of the total market capitalization of Ethereum. Inflows into ETHA accounted for 81.3% of the total inflows into Ethereum funds last week. 

"Highest trading volume week *ever* for spot crypto ETFs," noted NovaDius Wealth president Nate Geraci on X. "Spot eth ETFs absolutely obliterated previous weekly trading volume record."

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