- Spot Bitcoin and Ethereum ETFs collectively attracted $623 million last week.
- Bitcoin-based products recorded a positive trend for the sixth consecutive week.
- Ethereum-based products saw capital inflow after a decline in late January.
- Significant contributors include IBIT and ETHA funds.
- SEC is reviewing applications for Solana and Litecoin ETFs.
Spot Bitcoin and Ethereum ETFs Attract $623 Million Last Week
In a significant development for the cryptocurrency market, spot Bitcoin and Ethereum ETFs collectively attracted $623 million for the week ending February 7, 2025. According to SoSoValue, this marks a continued positive trend for Bitcoin-based products and a reversal for Ethereum-based ones after a dip in late January.
Bitcoin ETFs Showcase Remarkable Growth
Spot Bitcoin ETFs in the U.S. market reported a net weekly capital inflow of $203.54 million, marking the fourth-largest inflow since the inception of trading these funds. This growth has been consistently positive for six weeks, indicating strong investor confidence in Bitcoin products. Notably, the IBIT fund led the charge with a substantial inflow of $315.2 million, followed by ARKB with $64.4 million.
Ethereum ETFs Experience a Turnaround
The sector of spot Ethereum ETFs saw an influx of $420.06 million over the same period. This positive shift comes after a period of declining investments since mid-January 2025. Leading the way was the ETHA fund, which amassed $286.81 million, closely followed by FETH with $97.28 million. Despite the turnaround, there are indications that the overall inflow trend is tapering.
Spotlight on SEC’s New Applications
In regulatory news, the U.S. Securities and Exchange Commission (SEC) is currently reviewing an application by Grayscale Investments to create a spot Solana ETF. Additionally, the SEC has accepted a proposal from Canary Capital for a Litecoin ETF, with a decision deadline set for 240 days from the end of January 2025.
This vibrant activity in the ETF space highlights the growing institutional interest in cryptocurrencies. As regulatory bodies like the SEC consider new applications, the crypto market is poised for further evolution, potentially broadening the accessibility and appeal of digital assets to an even wider audience. Such developments underscore the dynamic and rapidly changing landscape of the cryptocurrency market, promising exciting opportunities and challenges ahead.
