U.S. spot Bitcoin ETFs recorded their third consecutive week of positive net inflows, with a weekly gain of $33.8 million. Behind the scenes, BlackRock, the world’s largest crypto ETF manager, reallocated approximately $202 million from its Bitcoin fund IBIT to its own Ethereum products. Thursday and Friday combined saw $465.26 million in outflows, with IBIT alone accounting for $415 million. Ethereum spot funds recorded net inflows during the same period, in a movement that Tom Lee, strategist at Fundstrat, regularly describes as a bullish signal for the broader crypto sector.
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