Crypto ETF divergence: Bitcoin sees modest gains as Ethereum falters

The week marked a stark transition from the previous period's momentum, where Bitcoin ETFs had attracted a robust $2.39 billion. Despite the overall positive tally, performance remained uneven across the five-day window. Bitcoin funds experienced a notable mid-week dip with $148.7 million in withdrawals on Wednesday, though this was largely corrected by a $102.7 million recovery on Thursday. BlackRock’s IBIT led the institutional interest, securing $292 million in net inflows through Thursday, while Fidelity’s FBTC and Grayscale’s GBTC faced headwinds, recording weekly net outflows of $167.9 million and $54.6 million respectively.

Ethereum products faced a more uniform decline. After a brief start with $17.1 million in inflows on Monday, the sector saw consistent withdrawals for the remainder of the week. Fidelity’s FETH bore the brunt of the sell-off with $74.1 million in net outflows, while Grayscale’s ETHE continued to shed capital, losing $27.9 million. Elsewhere, Solana ETFs saw their weekly intake plummet to $800,000, a fraction of the $188.1 million recorded the previous week. Meanwhile, the Zcash-tracked fund ZCSH experienced a notable exit of $77.6 million, contrasting with a $3.4 million gain for Hyperliquid ETFs.