\n\t\t\t\t\t\t\t\t\tOver $100 million entered the funds tracking the altcoin in the past week.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The spot Bitcoin exchange-traded funds ended their third consecutive week in the green, but momentum faded at the end of it.<\/p>\n
In the meantime, the funds tracking Ethereum continue to outperform, gaining over $100 million as the underlying asset challenged the $1,950 level.<\/p>\n
BTC ETFs Still in the Green but\u2026<\/h2>\n
The funds tracking the market leader<\/a> were in a tough spot for weeks. Eight, to be precise. In this streak that began in mid-May and felt it went on for eternity, they saw over $8 billion withdrawn from investors, with the total net inflows going down from over $59.34 billion to $51.08 billion on July 2.<\/p>\n However, investors finally changed their tune at this point and broke this negative trend<\/a> during the first full week of July, inserting nearly $200 million. Another $75.67 million followed<\/a> during the subsequent week, and the one that just ended began on a high note. In fact, the actual net inflows stood at approximately $1 billion during the seven consecutive green days \u2013 from July 14 until July 22.<\/p>\n This coincided (or propelled) with bitcoin\u2019s price rally that drove the asset to $67,000 on Wednesday for the first time in over a month. However, the asset was rejected there, driven south to $64,000 on Friday, while the ETF outflows returned. On Thursday and Friday, investors pulled out $225.18 million and $240 million, respectively.<\/p>\n As such, even though the week ended slightly in the green, it was a relatively modest $33.79 million.<\/p>\n A rather interesting trend that began two weeks ago was replicated once again. The spot Ethereum ETFs<\/a> turned out to be more attractive to investors, with almost $104 million in net inflows. Only one day was in the red, with investors pulling out $70.62 million on Friday. Before that, they had poured in $38.09 million on Monday, $37.47 million on Tuesday, $72.64 million on Wednesday, and $26.32 million on Thursday.<\/p>\n Perhaps due to these rather impressive numbers, the underlying asset surged past $1,900 mid-week and peaked at just over $1,950. However, it couldn\u2019t keep the momentum going and slipped by about $100 on Friday and Saturday.<\/p>\n The total net inflows of the ETH ETFs have recovered over $200 million in the past three weeks, but are still well below the $12.09 billion seen in May.<\/p>\n \u00a0<\/p>\nETH ETFs Still Do Better<\/h2>\n
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