US spot Bitcoin ETFs post $301M weekly inflow, ending two-week outflow streak
In brief
- US spot Bitcoin ETFs logged about $301 million in net weekly inflows, per Farside Investors data.
- Monday-to-Wednesday inflows of $1.08 billion outweighed about $774 million in Thursday and Friday outflows.
- DWF Labs found net outflows in seven of eight 15%-plus Bitcoin sell-offs since January 2024.
- US spot Ether ETFs posted about $221 million in outflows, a fourth straight week of withdrawals.
A strong start, then a reversal
The weekly total hides a lot of movement. Bitcoin ETFs drew $1.08 billion between Monday and Wednesday, and over the same days Bitcoin climbed to a weekly high of $84,777 on Wednesday, according to CoinGecko.
Then it flipped.
Investors withdrew about $774 million on Thursday and Friday as BTC fell back toward $80,000, per Farside Investors data. The first three days were big enough that the week still ended in the green, and that's the first positive week for the funds in three. They'd lost about $228 million the week before last and $680 million the week before that. October's net outflows came to about $314 million, according to Farside.
At the time Cointelegraph published its report, Bitcoin traded at $80,025 (down about 3.3% over the previous seven days). The Crypto Fear & Greed Index slipped to a "Neutral" reading of 50, down from a "Greed" reading of 59 a week earlier.
DWF Labs: ETF holders sell into declines
Market maker DWF Labs published research on Thursday saying ETF investors have tended to sell when Bitcoin falls. The firm found net outflows in seven of eight Bitcoin sell-offs of at least 15% since US spot Bitcoin ETFs launched in January 2024.
“ETF investors aren’t the dip buyers people think they are,” DWF said.
That's DWF's analysis of the flow history, not a forecast, and it's worth reading it that way. It doesn't say what flows will do next. Last week's Thursday and Friday withdrawals did come while BTC was sliding toward $80,000, though.
Ether ETFs don't share the rebound
The spot Ether products didn't get the same relief. US spot Ether ETFs recorded a fourth straight week of net outflows, losing about $221 million last week, according to Farside Investors data. So while Bitcoin funds snapped their losing run, the Ether side of the ETF market kept losing money for another week.
Frequently asked questions
How did US spot Bitcoin ETFs end last week with inflows despite heavy withdrawals?
The funds drew $1.08 billion from Monday to Wednesday, then lost about $774 million on Thursday and Friday, according to Farside Investors data reported by Cointelegraph. Net inflows for the week came to about $301 million.
Do Bitcoin ETF investors buy the dip?
Research from market maker DWF Labs says they generally don't. DWF found net outflows in seven of eight Bitcoin sell-offs of at least 15% since US spot Bitcoin ETFs launched in January 2024. That's DWF's analysis of past flows, not a forecast.
