Bitcoin ETF volume drops to a 21-month low as Ether gains ground

US spot Bitcoin ETFs traded about $8.05 billion over five sessions through Friday. That’s the slimmest full week for these funds since October 2024.

Ether products, meanwhile, drew in fresh cash for a third straight week.

Bitcoin ETF volume hits a nine-month low

SoSoValue data shows that’s a 14% drop from $9.37 billion the previous week. April 2025 had lower weekly volume, but that stretch only ran four sessions. US markets were closed for Good Friday. Against full five-day weeks, this is the lowest turnover since the week ending October 11, 2024.

BTC spent most of the week trading around $64,000, well off the highs seen late last year. Activity slowed with little price movement for traders to work with.

Bitcoin funds saw net inflows of about $33.8 million for the week. That’s three weeks of inflows now, after a record eight-week run of outflows ended in early July. It was the weakest of the three weeks, coming after $75.7 million the week before and $197.4 million before that.

Underneath that headline number is a sharp reversal. By Wednesday, the funds had attracted about $499.1 million. Investors pulled $225.2 million on Thursday and another $240.1 million on Friday. That wiped out most of the week’s gains.

BlackRock’s IBIT, the biggest fund in the category, lost $414.7 million in those two days alone and was down about $95.5 million for the week. The ARK 21Shares Bitcoin ETF and Grayscale’s Bitcoin Mini Trust cushioned the blow, drawing in about $85.8 million and $78.1 million, respectively.

Ether ETFs outpace Bitcoin funds again

Spot Ether ETFs added about $103.9 million, more than three times the amount that flowed into Bitcoin and a third straight week of gains for the group. For two consecutive weeks now, Ether products have outsold their larger rivals. The week before, Ether drew $105.4 million in inflows versus Bitcoin’s $75.7 million.

Ether ETFs held $10.17 billion in net assets on Friday, about one-eighth of the Bitcoin funds’ $77.82 billion. But the two camps have raised almost identical amounts over three weeks. Ether earned about $293.8 million compared with Bitcoin’s $306.9 million.

BlackRock’s iShares Ethereum Trust accounted for $96.3 million of that Ether haul. Grayscale’s Ethereum Mini Trust added $9.9 million while Fidelity’s FETH lost $6.2 million. Ether ETFs saw trading volume of $2.78 billion, about 35% of what the Bitcoin funds traded.

The recent surge in inflows hasn’t undone the damage of the year. Bitcoin ETFs remain down about $5.23 billion since January. Ether funds are down about $1.15 billion. Ether has led July’s revival with about $337.7 million in inflows versus Bitcoin’s $234 million.

The two fund groups snapped their eight-week outflow streaks on July 11, adding a combined $281.8 million. That recovered just a fraction of the about $9.46 billion drained over the prior two months.

Even earlier, Bitcoin funds ended an unprecedented 13-day run of withdrawals on June 5. That followed more than $4.4 billion in redemptions since mid-May. That same day, ETH ETFs ended a 17-day slide.

Cryptopolitan reported that on June 5 alone, $326 million left the Bitcoin funds, with $214 million of that from BlackRock’s IBIT. CoinShares data also showed professional investors had cut their Bitcoin exposure by 17% in the first quarter.

Bitcoin was trading at around $64,368 Saturday morning, while Ether changed hands at around $1,875 according to CoinGecko’s aggregated data.

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