- US spot Bitcoin ETFs recorded US$6.1 million in net inflows for the week after a strong finish on Thursday and Friday.
- BlackRock’s IBIT and Fidelity’s FBTC accounted for most of the individual fund activity.
- Bitcoin gained 5.77% over the week, while Solana and Zcash posted particularly strong gains.
- Grayscale’s Zcash ETF will undergo a 3-for-1 share split as Zcash’s value has surged nearly 2,900% over the past year.
US spot Bitcoin exchange-traded funds (ETFs) saw over half a billion USD flow in towards the end of the week: US$159.5 million (AU$223.8 million) on Thursday and US$433 million (AU$607.6 million) on Friday, according to data from Farside Investors.
That reversed the trend seen on Tuesday and Wednesday, when the funds suffered combined net losses of US$746.3 million (AU$1.04 billion). After Monday’s US$159.9 million (AU$224.3 million) net inflow, weekly net inflows came to US$6.1 million (AU$8.5 million).
At the individual fund level, only two funds saw much movement: BlackRock’s IBIT and Fidelity’s FBTC. Over the week, US$120.6 million (AU$169.2 million) in net flows went into IBIT, while US$79.9 million (AU$112.1 million) went into FBTC.
Overall, the prior week ended with US$462.7 million (AU$649.2 million) exiting the ETFs after a week of outflows.
Total cumulative inflows since launch now stand at US$55 billion (AU$77.1 billion), up from a low of US$50 billion (AU$70.1 billion) in July, but still below the peak of US$63 billion (AU$88.3 billion), as Bloomberg’s Senior ETF Analyst Eric Balchunas noted on X:
In total, the US ETFs now hold 1.25 million BTC, around 5.99% of Bitcoin’s 21 million total supply, at a current market value of US$102.2 billion (AU$143.3 billion).
Related: JPMorgan: Bitcoin Could See Stronger ETF Demand Than Gold
BTC Gains, Zcash Steals the Show
Meanwhile, the underlying asset, Bitcoin, has gained 5.77% over the past week, currently trading at US$81,288 (AU$114,039) on the back of a broader crypto rally. Altcoins like Ethereum (+6.69%), XRP (+5.2%), Solana (+11.49%) and Zcash (+42.09%) also rallied.
This comes as Grayscale’s Zcash ETF will execute a 3-for-1 share split, with shareholders receiving two additional shares for each one held while the total value of their investment remains unchanged. The move follows a nearly 2,900% surge in Zcash over the past year, just weeks after Grayscale converted its Zcash Trust into a spot ETF.
Ethereum ETFs, on the other hand, saw net outflows of US$140.6 million (AU$197.2 million) last week, ending a four-week net inflow streak.
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