BTC and ETH ETFs Struggle as Ethereum Posts Another Weekly Loss

Highlights:

• BTC and ETH ETFs had outflows on January 10.
• Bitcoin funds lost $68.48 million, while Ethereum ETFs forfeited $128.72 million.
• Despite the losses, Bitcoin ETFs’ weekly data reflected gains, while Ethereum succumbed to losses.

On January 10, Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs) had net outflows, marking their last outing for the week. Following their latest losses, Bitcoin ETFs’ consecutive outflows extended to a second day, while Ethereum funds witnessed their third straight loss.

According to the renowned on-chain ETF tracker SosoValue, $68.48 million left Ethereum ETFs yesterday. Throughout this week, which extended between January 6 and January 10, ETH funds gained on only the first day after attracting $128.72 million on the said date. As a result, the ETFs eventually succumbed to net weekly losses, valued at about $185.89 million.

On January 10, the total net outflow of Ethereum spot ETFs was $68.4788 million. The Ethereum spot ETF with the largest net outflow in a single day yesterday was Fidelity ETF FETH, with a net outflow of $65.43 million in a single day. https://t.co/Tvs2oCS03I pic.twitter.com/XK8da93TOA

— Wu Blockchain (@WuBlockchain) January 11, 2025

Considering the figure above, Ethereum ETFs’ negative weekly trend has now persisted for the second consecutive time, eliciting Ethereum price action concerns. It is worth noting that before the new weekly losses trend began, the last time ETH funds witnessed losses was on November 22. After that, the ETFs picked momentum to conclude 2024 on a very impressive note by recording five straight weekly profits.

Ethereum ETFs Latest Outing Data

In their most recent outing, Ethereum ETFs experienced market activeness from only two funds as the remaining served had zero flows. Both ETFs, which include Fidelity Ethereum ETF (FETH) and Bitwise Ethereum ETF (BITB), lost $65.43 million and $3.05 million, respectively.

As expected, the outflows negatively impacted Ethereum ETFs’ cumulative variables. The net inflows dropped from $2.52 billion to $2.45 billion. Similarly, the total value traded reduced from $458.63 million to $370.70 million, while total net assets depreciated from $11.74 billion to $11.61 billion.

Bitcoin ETFs Maintain Weekly Gains Despite Back-to-Back Daily Losses

Like Ethereum, Bitcoin ETFs saw net outflows worth $149.35 million on January 10. Five funds were active, while the remaining seven witnessed neither inflows nor outflows. Among the active Bitcoin ETFs, three attracted gains, which couldn’t offset the losses from BlackRock Bitcoin ETF (IBIT) and Bitwise Bitcoin ETF (BITB).

Bitcoin spot ETF had a total net outflow of $149 million on January 10. Fidelity ETF FBTC had a net inflow of $16.5656 million on a single day. https://t.co/59u0BnEqLG pic.twitter.com/WI1uTf1BpM

— Wu Blockchain (@WuBlockchain) January 11, 2025

For context, IBIT lost $183.56 million, while BITB forfeited $1.55 million. Meanwhile, the profitable funds were Fidelity Bitcoin ETF (FBTC), Grayscale Bitcoin ETF (GBTC), and ARK 21Shares Bitcoin ETF (ARKB). They gained $16.57 million, $13.51 million, and $5.69 million, respectively.

Despite the net outflows, Bitcoin ETFs’ weekly data maintained its profitable outlook, worth approximately $307.20 million. Moreover, the cumulative net inflows after yesterday’s outing dropped from $36.37 billion to $36.22 billion. Similarly, the total value traded reduced from $3.40 billion to $3.26 billion, while the total net assets reflected $107.64 billion.

Bitcoin ETFs Marks First Year of SEC’s Approval

On January 10, 2024, the United States Securities and Exchange Commission (SEC) approved Bitcoin ETF sales. Within a year interval, the ETFs have attained commendable feats, which got many market participants talking. Notedly, relative to gold’s first year, Bitcoin ETFs were many times better, with over $36 million in net inflows.

Bitcoin ETFs just turned 1.

Caption contest for this picture.

Ready, go. pic.twitter.com/sIGCBab34W

— Bitwise (@BitwiseInvest) January 10, 2025

On the other hand, gold merely managed to attract gains below $5 million. Moreover, in its first nine years, gold never attracted gains that were up to Bitcoin ETFs’ first yearly figure. Therefore, it underscores Bitcoin funds’ resilience amid criticism about the token’s volatile nature.

Meanwhile, four ETFs out of the twelve approved Bitcoin ETFs in 2024 ranked among the top 20 US ETF launches of all time. They include IBIT, FBTC, ARKB, and BITB. The remarkable one-year achievement will inspire hope for Bitcoin’s future outlook.

Just how big was the first year for Bitcoin ETFs?
MASSIVE

Here's a list of the largest ETFs 1 year after they launched. Even if you inflation adjust the assets, 4 of the Bitcoin ETFs are in the top 20 US ETF launches of all time. $IBIT, $FBTC, $ARKB, and $BITB pic.twitter.com/MQuf6wp9Fe

— James Seyffart (@JSeyff) January 10, 2025