- Spot Bitcoin ETFs ended the week with $6.21 million in net inflows after a strong Friday.
- Spot Ethereum ETFs broke their positive run with $140 million in weekly net outflows.
Bitcoin ETFs went through a sharp reversal during what was described as one of the most important macro weeks of the year for crypto markets. Investor behavior across the week shifted quickly as attention moved from the CLARITY Act vote in the US Senate to the Federal Reserve decision. Early gains were erased by heavy withdrawals in the middle of the week before Friday brought a two-week peak in inflows. That late turnaround helped Bitcoin ETFs close slightly positive overall, while Ethereum funds were not able to recover in the same way and ended their recent streak of positive weekly results.
Bitcoin ETFs reversed course on Friday
The week started positively for spot Bitcoin ETFs, which recorded slightly more than $160 million in net inflows on Monday. That opening changed on Tuesday, when investors withdrew $450.33 million from the funds. The report said this came as the CLARITY Act was scheduled to be voted on in the US Senate, and the vote did not go in the cryptocurrency industry’s favor.
Pressure continued on Wednesday as markets watched the Fed. After the US central bank raised rates for the first time in over three years, investors pulled another $296 million from the ETFs. Conditions improved somewhat on Thursday, when SoSoData showed net inflows of just under $160 million, setting up a much stronger finish to the week.
How the week turned for Bitcoin ETFs
Friday changed the overall picture for Bitcoin ETFs. Net inflows reached $433.03 million, the highest daily total in two weeks. That single session helped push the weekly total back into positive territory, leaving the funds with a net gain of $6.21 million by the end of the business week.
The move also coincided with a strong rise in Bitcoin’s price. According to the report, BTC climbed from $76,000 early on Friday to more than $80,000 by the end of the day. The late-week recovery in fund flows and price action stood out after the earlier pressure linked to the Senate vote and the Fed decision.
Ethereum funds lost momentum
Spot Ethereum ETFs had been on a notable run over the past couple of months. Their cumulative total net inflows increased from below $10.9 billion to nearly $13.4 billion. During that period, only one of 10 business weeks ended in the red, and that decline was relatively small, with $2.26 million leaving the funds in the second full week of August.
That run ended in the latest week. Ethereum ETFs posted $140 million in net outflows overall. Monday brought $121.02 million in inflows and Friday added another $143.80 million, but those gains were outweighed by losses on the other three days: $141.47 million on Tuesday, $224.11 million on Wednesday, and $39.24 million on Thursday.
Market reaction and prices
The weekly contrast between Bitcoin and Ethereum funds became clearer by the close of trading. Bitcoin-related products managed to recover from steep withdrawals and finish slightly positive, while Ethereum products could not overcome the losses accumulated during the middle part of the week.
Price action also remained active. Bitcoin rose above $80,000 by the end of Friday after starting that day around $76,000. Ethereum, meanwhile, moved past $2,600 on Friday and Saturday before being stopped. The report said ETH now sits just below that level after the latest developments in the Middle East.
Conclusion
Bitcoin ETFs finished a difficult macro week with a narrow positive result after large outflows on Tuesday and Wednesday were offset by a strong rebound on Friday. The final weekly inflow of $6.21 million reflected how quickly sentiment changed around the CLARITY Act vote and the Fed rate decision. Ethereum funds followed a different path, ending their streak with $140 million in net outflows despite solid inflows at the start and end of the week. The report also linked the late-week recovery in Bitcoin ETFs to a sharp move in BTC’s price, while ETH briefly pushed above $2,600 before easing back below that mark.
Disclaimer
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