Bitcoin funds are strong again this week, but demand for Ethereum is lacking

The Spot Bitcoin ETF has enjoyed another week of significant inflows, with nearly $1 billion flowing into the fund over the past five business days.

The same cannot be said for its Ethereum counterpart, which actually ended the week with a small loss.

$1 billion enters BTC ETF every week

crypto potato reported that over the weekend, 11 spot Bitcoin ETFs attracted more than $2 billion in net inflows, marking their best weekly performance since mid-March. This triggered an impressive rise in BTC, with the asset rising from $62,500 on Monday to $69,000 at the end of the trading week (Friday).

The fund's remarkable streak continued last Monday (October 21) with $294.3 million in inflows. But it was broken on Tuesday with net inflows of $79.1 million, marking the first negative day since Oct. 10.

Capital inflows were back on track on Wednesday, Thursday, and Friday, with net inflows of $192.4 million, $188 million, and a whopping $402 million, respectively. So the overall number for the week jumped to $997.6 million.

BlackRock's IBIT was at the forefront, raising $329 million on Monday, $43 million on Tuesday, $317.5 million on Wednesday, $165.5 million on Thursday, and $292 million on Friday. was. The largest spot Bitcoin ETFs collectively recorded net inflows worth $1.147 trillion. This actually means that the remaining funds ended the week in the red.

However, BTC's price action this week has been quite underwhelming, with the asset peaking at $69,500 on Monday before falling to $65,000 on Wednesday. Nevertheless, it is currently trading at $67,000, down 1.7% for the week.

ETH ETF sees little interest

While spot BTC ETFs continue to attract investor attention, Ethereum funds are not yet considered a suitable investment. The past trading week has been similar to previous trading weeks, with net outflows of $20.8 million on Monday and net outflows of $19.2 million on Friday.

Smaller net inflows of $11.9 million on Tuesday, $1.2 million on Wednesday and $2.3 million on Thursday were unable to offset losses at the beginning and end of the business week. As such, the Spot Ethereum ETF ended the week in the red with net outflows of $24.6 million.

ETH price has fallen over the past 7 days. It has fallen more than 6% in this period and is currently struggling below $2,500.