The Bitcoin spot ETF in the U.S. continues with two weeks of net inflows, while the Ethereum ETF has seen five weeks of net outflows.
On March 31, according to SoSoValue data, the Bitcoin spot ETF recorded a net inflow of $196 million last week, marking two consecutive weeks of net inflows.
Among them, Blackrock's Bitcoin ETF IBIT topped the net inflow rankings last week with a weekly net inflow of nearly $172 million, bringing the total net inflow to $39.95 billion. Following closely is Fidelity's Bitcoin ETF FBTC, which had a weekly net inflow of $86.84 million and a cumulative net inflow of $11.47 billion.
Meanwhile, Ark Invest & 21Shares' Bitcoin ETF ARKB experienced the largest net outflow last week, with a weekly net outflow of $40.97 million, accumulating a total net inflow of $2.63 billion.
As of last week, the total net asset value of Bitcoin spot ETFs was $94.39 billion, accounting for 5.68% of Bitcoin's total market capitalization, with a historical cumulative total net inflow reaching $36.24 billion.
In the same week, the Ethereum spot ETF saw a net outflow of $8.64 million last week, recording five consecutive weeks of net outflows.
Among them, Grayscale's Ethereum Mini Trust ETF ETH had the largest net outflow last week, with a weekly net outflow of $6.66 million, accumulating a nearly $571 million net inflow. Following that is Fidelity's Ethereum ETF FETH, which had a weekly net outflow of $3 million and a cumulative net inflow of $1.41 billion.
On the other hand, Grayscale's Ethereum Trust ETF ETHE had the highest net inflow last week, with a weekly net inflow of $4.68 million, but accumulating a total net outflow of $4.17 billion.
As of last week, the total net asset value of Ethereum spot ETFs was $6.42 billion, accounting for 2.84% of Ethereum's total market capitalization, with a cumulative total net inflow of $2.41 billion.
In summary, the current cryptocurrency market is showing a thought-provoking phenomenon. Although the Bitcoin spot ETF has recorded net inflows for two consecutive weeks, the spot price continues to decline, leading to a confusing trend of "divergence between funds and price." More concerning is the situation of Ethereum, which has seen net outflows for five consecutive weeks, with increasing price pressure and a clearly cautious market sentiment.
What do you think is causing the Bitcoin ETF inflows not to drive up the coin price? Is this divergence due to "main force accumulation" or "market failure"? Will the market continue to decline in April, or will it see a strong rebound?
