US spot Bitcoin exchange-traded funds recorded their second consecutive week of net inflows, marking the first back-to-back weekly gains in five months.
Spot Bitcoin (BTC) ETFs attracted roughly $568.45 million in net inflows this week, according to data from SoSoValue. The products also posted positive flows of about $787.31 million the previous week, showing renewed investor appetite after several weeks of sustained outflows.
Before the recent turnaround, US spot Bitcoin ETFs endured a prolonged period of investor withdrawals, recording roughly $3.8 billion in cumulative outflows over a five-week streak. The biggest weekly withdrawal during the streak occurred in the week ending Jan. 30, when spot Bitcoin ETFs recorded about $1.49 billion in net outflows.
Bitcoin ETFs see inflows for second consecutive week. Source: SoSoValue
Daily flows were mixed during this week. Spot Bitcoin ETFs recorded inflows of $458.19 million on Monday, followed by $225.15 million on Tuesday and a larger $461.77 million on Wednesday. The momentum reversed in the final sessions, with the funds seeing $227.83 million in outflows on Thursday and $348.83 million in redemptions on Friday.
Related: US Bitcoin ETFs Post $462 Million Inflows as BTC Tops $73K
Ether ETFs see weekly inflows
US spot Ether (ETH) ETFs also recorded their second consecutive week of net inflows. The funds attracted roughly $23.56 million in net inflows for this week after posting $80.46 million in inflows the previous week, , marking their first back-to-back weekly gains since early October last year.
Before the rebound, spot Ether ETFs faced a sustained withdrawal streak, recording more than $1.38 billion in cumulative outflows across five consecutive weeks. The largest weekly outflow occurred during the week ending Jan. 23, when the funds recorded roughly $611 million in net redemptions.
Meanwhile, the funds saw mixed results throughout the latest reporting week. They recorded $38.69 million in inflows on Monday, followed by $10.75 million in outflows on Tuesday. Inflows returned on Wednesday with $169.41 million, but the momentum faded later in the week.
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