Spot Bitcoin ETFs (exchange-traded funds) in the United States closed the past week with their best single-day performance in almost two months. This notable feat signaled a shift in investor sentiment as the crypto products have been experiencing significant capital outflows in the past few weeks.

Investors Flood Back To Bitcoin ETFs After Two Weeks Of Outflows

On Friday, September 13, the US spot Bitcoin ETF market registered a net inflow of $263.1 million, the highest since July 22’s $485.9 million single-day influx. Interestingly, BlackRock’s IBIT, the largest BTC ETF by assets under management, posted zero net inflows on this day.

The trillion-dollar asset manager’s fund has not had the best run in the past few weeks, seeing no net trading activity on most days. Fidelity’s FBTC led on Friday with $102.1 million in capital inflows while Ark & 21Shares’ ARKB followed with a $99.3 million single-day influx.

Furthermore, Bitwise’s BITB came in third on the day, with an inflow of over $43 million. Notably, outflows from Grayscale’s exchange-traded fund seem to be slowing down, with the GBTC product posting an inflow of $6.66 million on Friday.

Source: SoSoValue

Cumulatively, this brought the total weekly net inflows for the Bitcoin ETFs to an impressive $403.8 million, according to data from SoSoValue. This latest week of capital influx for the US-based Bitcoin ETFs is in contrast with the previous two weeks, which saw a cumulative $983.31 million flow out of the crypto funds.

The timing of the latest BTC ETF inflows is even more interesting, considering that the Bitcoin price made its way above the $60,000 level again. As of this writing, the price of Bitcoin continues to hover around the $60,000 mark, with barely any movement in the past day.

Ethereum Funds Continue To Trail Bitcoin ETFs

Spot Ethereum exchange-traded funds haven’t quite lived up to the hype of the early days while struggling to be as impactful as their Bitcoin equivalents. On Friday, the US-based ETH funds closed with a daily total net inflow of $1.52 million.

Notably, Grayscale’s ETHE posted an outflow of more than $7.3 million on Friday. Meanwhile, Bitwise and BlackRock’s Ethereum ETFs registered a capital inflow of $5.2 million and $3.67 million, respectively.

However, this daily inflow of capital was not sufficient enough to turn the week into a positive one for the Ethereum funds. According to SoSoValue’s data, the Ethereum ETF market registered a total net outflow of almost $13 million in the past week.

The post Spot Bitcoin ETFs Record $263 Million In Single-Day Inflows — Details appeared first on Bitcoinist.