Bitcoin ETFs bleed out $585m in weekly exodus, ending 6-week inflow streak

Spot Bitcoin exchange-traded funds in the United States flipped to net weekly outflows over the past week, ending their six-week inflow streak that brought in over $5 billion.

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $585.65 million in net weekly outflows for the week ending Feb. 14, breaking a six-week inflow streak that brought in over $5 billion.

Notably, the week began with $186.28 million in outflows on Feb. 10, which continued with $56.76 million, $251.03 million, and $157.78 million over the next three trading days. That said, the investment funds ended the week on a slightly positive note with a modest $66.19 million in net inflows.

Fidelity’s FBTC attracted the majority of inflows for the day, with $94.04 million entering the fund, ending its negative flow streak recorded over the previous four trading days. The spot Bitcoin ETF is the second-best-performing BTC fund, with $12.5 billion in cumulative net inflows since its launch.

BlackRock’s IBIT followed with an inflow of $22.26 million, while Bitwise’s BITB and Grayscale’s mini Bitcoin Trust also contributed to the positive momentum, recording inflows of $7.99 million and $6.46 million, respectively.

On the outflows side, Grayscale’s GBTC saw $46.95 million in exits, bringing its cumulative net outflows to a substantial $22.01 billion. ARK 21Shares’ ARKB and VanEck’s HODL also posted modest losses of $13.19 million and $4.43 million respectively.

At press time Bitcoin (BTC) was down 2.4% over the past week, trading at $95, 652 per coin.

Meanwhile, the nine spot Ethereum ETFs recorded $26.26 million in weekly outflows for the week ending Feb. 14. After finally beginning to gain traction with investors, ETH funds appear to be building momentum.

Similar to BTC, ETH funds ended the week on a positive note with a modest $11.65 million in net inflows, all of which flowed into Fidelity’s FETH, while the other funds saw zero flows on the day.

Ethereum (ETH) was exchanging hands at $2,685 down only 0.3% over the past week when writing.