US spot Bitcoin exchange-traded funds (ETFs) have reversed a prolonged outflow trend, securing their second straight week of net inflows. This marks the first time the funds have seen back-to-back weekly gains since the fall of 2024, signaling a potential shift in investor sentiment.
Bitcoin ETFs End Five-Week Outflow Streak
According to data from analytics firm SoSoValue, the 12 US-listed spot Bitcoin ETFs attracted approximately $568.45 million in net inflows during the week ending February 7. This follows a prior week where they saw about $787.31 million enter the funds. The consecutive inflows provide a stark contrast to the preceding five-week period, which saw a cumulative $3.8 billion exit the products. The most severe week of that downturn was the period ending January 30, which recorded a single-week net outflow of roughly $1.49 billion.
Daily flows within the latest week were volatile. Strong inflows on Monday ($458.19M) and Wednesday ($461.77M) were partially offset by outflows on Tuesday and significant redemptions on Thursday ($227.83M) and Friday ($348.83M).
Ether ETFs Follow Suit with Inflows
The trend was mirrored in the US spot Ether (ETH) ETF market. These funds also posted their second consecutive week of net inflows, attracting about $23.56 million after an $80.46 million inflow the previous week. This two-week positive streak is their first since early October 2024.
Before this rebound, Ether ETFs endured a five-week withdrawal period that drained over $1.38 billion. The largest single outflow occurred in the week ending January 23, totaling approximately $611 million. Weekly flows for the current period were mixed, featuring a $38.69 million inflow on Monday, a $10.75 million outflow on Tuesday, and a substantial $169.41 million inflow on Wednesday before momentum faded later in the week.
Bitcoin ETFs Near Gold ETF Inflow Milestone
In broader context, the pace of institutional adoption for Bitcoin ETFs is historically unprecedented. Fernando Nikolić, director of marketing at Blockstream, highlighted in a recent social media post that US spot Bitcoin ETFs have already accumulated inflows roughly equivalent to the first 15 years of gold ETF inflows—all in less than two years of trading. This is despite gold ETFs having a 15-year head start in the market.
Nikolić noted this milestone was achieved during a 46% drawdown in Bitcoin’s price and an extended period of negative performance, suggesting institutional demand has remained resilient. “Anyone still arguing about whether bitcoin is ‘digital gold’ is wasting their breath,” he stated. “Bitcoin isn’t trying to be gold. Bitcoin is making gold look slow.”
Source: SoSoValue (Bitcoin & Ether ETF flow data); Source: Fernando Nikolić (Bitcoin vs. Gold ETF comparison chart).
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