Last week saw a strong influx of capital into Bitcoin ETFs, with total inflows reaching a substantial $2.28 billion, marking two consecutive weeks of positive net asset flow. Leading the charge, BlackRock’s IBIT Bitcoin ETF took the spotlight, pulling in an impressive $1.23 billion within a week, bringing its cumulative net inflows to a staggering $24.05 billion. Fidelity’s FBTC wasn’t far behind, capturing $352 million in new investments last week, pushing its total net inflow to $11.25 billion. Despite Grayscale’s GBTC seeing a smaller net inflow of $101.3 million, it continues to trail with an overall net outflow of $19.5 billion to date.

In total, Bitcoin ETFs now boast a combined net asset value of $68.4 billion, making up approximately 5.02% of Bitcoin’s total market cap, with cumulative inflows standing at $22.1 billion.

On the Ethereum side, the story remains positive with last week’s net inflows totaling $85.2 million, potentially signaling a reversal of recent outflows. BlackRock’s ETHA Ethereum ETF led the pack, bringing in $53.78 million, and its total net inflows have now reached $1.35 billion. Fidelity’s FETH ETF also performed solidly, securing $47.12 million in net inflows last week, pushing its cumulative net inflows to $543 million. However, Grayscale’s ETHE Ethereum Trust continues to face challenges, posting a net outflow of $34.2 million last week, with a total outflow reaching $2.85 billion.

As of now, the Ethereum ETFs collectively hold a net asset value of $7.81 billion, representing about 2.46% of Ethereum’s overall market cap, although the cumulative outflows have reached approximately $460 million, hinting that market enthusiasm for Ethereum remains somewhat subdued.

Outlook: Looking ahead to this week, if the bullish sentiment and strong capital inflows persist, we could see Bitcoin and Ethereum ETFs continue to attract more investors. However, the market is unpredictable, and factors such as regulatory developments, shifts in sentiment, or broader economic trends could quickly change the landscape. While the short-term outlook appears optimistic, investors should remain vigilant and prepared for any sudden market shifts.

What do you think? Are we witnessing the start of a sustained bull run for cryptocurrency ETFs? Are you more inclined to invest in crypto ETFs or prefer to stick with the underlying assets themselves?

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