Bitcoin ETFs see $390M in outflows as Ethereum ETFs snap five-week inflow streak

US spot Bitcoin ETFs shed $389.71 million last week, marking the largest weekly net outflow in six weeks and abruptly ending a run of healthy inflows. The prior week had seen $853.54 million pour into the same products. That's a swing of more than $1.2B in net flow direction, week over week.

Spot Ethereum ETFs, meanwhile, recorded a $2.26 million net outflow. A small number on its own, but it snapped a five-week streak of continuous inflows into ETH-linked products.

Bitcoin was trading near $63,000 during the reporting period. Despite nearly $390M walking out the door, price action was remarkably flat.

Compare that to the previous week's $853.54 million in inflows. That kind of whiplash, from nearly $854M in to nearly $390M out, typically reflects tactical repositioning rather than a fundamental change in thesis.

ETF flow data, primarily tracked by platforms like SoSoValue, has become one of the most closely watched indicators in crypto markets. Individual funds like BlackRock's IBIT for Bitcoin and ETHA for Ethereum tend to dominate weekly aggregates, meaning a single large allocation or redemption from one major player can swing the entire weekly number.

The broader pattern over recent months has been one of net accumulation. Bitcoin ETFs have attracted tens of billions in total assets since their January 2024 launch, and periodic weeks of outflows have consistently been followed by renewed inflows.