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Bitcoin ETFs reversed a five-week losing streak after investors added $787.31 million to the funds last week, according to SoSoValue data. The inflows ended a period of consecutive withdrawals that had raised concerns about the outlook for crypto investment products.
The rebound accelerated over three consecutive days, with inflows recorded on Tuesday, Wednesday and Thursday. Despite the weekly improvement, February still closed with net outflows of $206.52 million across Bitcoin ETFs.
Nate Geraci, who tracks crypto markets, said the recent outflows were less severe when viewed against Bitcoin’s broader performance since launch. He noted that since Bitcoin’s October peak, these ETFs have lost about $6.5 billion, while the funds have still pulled in $55 billion total since January 2024.
Ethereum ETFs posted a similar shift. The funds attracted $80.46 million last week, ending what could have been six straight weeks of outflows. Combined with Bitcoin’s surge, the weekly ETF inflows totaled nearly $870 million into crypto products.
CoinMarketCap data cited in the article showed Bitcoin trading around $42,000 by the end of February, while CoinGecko data put Ethereum near $2,800 at the same point. The article said the price recovery aligns with the ETF inflow pattern, as analysts continue to monitor how ETF flows may affect price stability.
The Chicago Mercantile Exchange (CME) showed Bitcoin futures trading rose 15% last week versus the week prior, based on February 28 data. The article also reported Binance spot Bitcoin trading increased 20% from February 25 to March 1, and Coinbase retail trading volumes rose 25% by March 1 compared with the previous week.
JPMorgan, in a February 29 research note, described the inflows as encouraging but not evidence of a clear trend reversal, maintaining a neutral stance. The bank pointed to geopolitical factors and macro signals as key drivers for what comes next.
BlackRock characterized the inflow as a positive indicator on March 1 but said it remains cautious given crypto’s volatility. The SEC’s February 28 market analysis report referenced increased ETF activity but did not announce any policy changes, indicating continued monitoring focused on investor protection.
Fidelity highlighted the ETF activity in its March 1 weekly commentary, suggesting the flows could reflect another wave of institutional interest as part of its broader digital asset strategy. Galaxy Digital’s Mike Novogratz also cautioned that volatility can return quickly, even if inflows appear promising.
The article linked the ETF activity to macro conditions, citing the Federal Reserve’s dovish signals. It referenced remarks by Fed Chair Jerome Powell on February 28 about potential rate cuts later this year, which the article said supported risk assets alongside tech stocks. Goldman Sachs, in a March 1 commodities report, noted that lower interest-rate expectations can boost alternative assets such as crypto as investors seek yield beyond traditional bonds.
Regulatory progress outside the U.S. also featured in the article. Hong Kong regulators approved the first Bitcoin ETFs on February 27, enabling Asia’s second-largest financial hub to offer institutional access to crypto. The article also cited Deutsche Bank’s February 29 digital assets briefing, which suggested that successful U.S. ETF adoption could accelerate similar products across European markets.
Finally, Morningstar data from late February indicated that pension funds in Canada and Australia have begun small Bitcoin ETF allocations.
While the $787 million weekly Bitcoin ETF inflow is described as the biggest weekly gain since launch, the article emphasizes that February’s overall outflows show investors remain cautious. For Ethereum, the end of six weeks of outflows suggests improvement, but the piece notes that investors are not yet making large, decisive bets.
Market watchers remain divided on whether the inflow rebound reflects institutions “testing the waters” or a temporary bounce before further selling. The article also said the relationship between ETF flows and crypto prices is becoming more pronounced, with futures activity rising, retail trading increasing, and regulators continuing to monitor developments.
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