What Happened to Bitcoin and Ethereum ETFs During the Crucial Macro Week?

Here's how Friday changed the entire week for the BTC ETFs.

In what was expected to be arguably the most important macro week of the entire year for the crypto markets, investors gaining exposure to the two largest digital assets by market cap through ETFs displayed rather controversial behavior.

Nevertheless, the spot Bitcoin ETFs managed to turn the tables on Friday, but the same cannot be said about their Ethereum counterparts, which snapped an impressive green streak.

BTC ETFs With Late Turnaround

The business week actually began on the right foot for the spot BTC ETFs as they gained slightly over $160 million on Monday. However, Tuesday was the first major test, with the CLARITY Act scheduled to be voted on in the US Senate. As the vote didn’t go in the cryptocurrency industry’s favor, investors pulled $450.33 million out of the funds, the highest daily net withdrawal since late June.

All eyes turned to the Fed on Wednesday as the US central bank hiked rates for the first time in over three years. Investors made another sizeable withdrawal, taking $296 million from the ETFs. The landscape improved slightly on Thursday. SoSoData shows that the net inflows were just under $160 million.