The crypto market experienced a trend shift over the past week, particularly in the U.S. spot sector. While this shift impacted spot Bitcoin exchange-traded funds (ETFs), Ethereum products remained unaffected. Data from CoinGlass indicates that spot Bitcoin ETFs recorded inflows every trading day last week, whereas Ethereum ETFs continued to see outflows. Despite this, ether’s (ETH) value has surged nearly 10% in the past seven days, surpassing $2,000. Bitcoin (BTC) has also risen approximately 5%, trading around $87,330, according to CoinMarketCap.
**Bitcoin ETFs Record Positive Flows**
From March 17 to 21, spot Bitcoin ETFs collectively experienced nearly $745 million in positive flows. Almost all products saw inflows at some point, with BlackRock’s IBIT leading the deposits throughout the week. These inflows came after weeks of significant outflows. Notably, investors deposited over $274 million into the funds on one of the best days since February 4. On that day, IBIT, Fidelity’s FBTC, Ark Invest/21Shares’ ARKB, and Bitwise’s BITB saw inflows of $42.3 million, $127.3 million, $88.5 million, and $2.3 million, respectively. Grayscale’s GBTC saw no outflows. By the following day, IBIT had over $218 million in positive flows, with ARKB losing about $9 million, bringing the collective inflows to $209 million. For the rest of the week, inflows were $11.8 million, $165.7 million, and $83.1 million, respectively.
**Ethereum ETF Outflows Persist**
Ethereum ETFs continued to see outflows throughout the week, with a total of $102.9 million withdrawn from Monday to Friday. Only Grayscale’s ETHE and 21Shares’ CETH saw positive flows on Wednesday, March 19. Over the month, at least $760 million was withdrawn from U.S. spot Ethereum ETFs. This selling pressure, compounded by a decline in whale activity, saw the number of addresses holding over 10,000 ETH drop from 999 to 919. Despite the negative impact on ether’s price, on-chain analyst Ali Martinez suggests ETH might be at a turning point, as whales bought 470,000 ETH last week, and around 1.2 million ETH has left crypto exchanges in the past 48 days, likely moving to cold storage.
**Twitter Post**
The crypto market sees a trend reversal: Bitcoin ETFs record positive flows while Ethereum ETFs struggle with outflows. ETH value surges 10% despite ongoing challenges. #Crypto #Bitcoin #Ethereum
