Surge in Hot Money! Bitcoin Spot ETF Saw Inflows of $760 Million Last Week, Ethereum ETF Attracts Capital in Tandem

U.S. Cryptocurrency Spot ETF Rebounds Significantly Last Week. According to Farside Investors data, during the week of March 9 to 13, the total net inflow into U.S. Bitcoin spot ETFs was approximately $763.4 million, while Ethereum spot ETFs also recorded about $160.9 million in net inflows. Bitcoin ETFs maintained net inflows for five consecutive trading days, and Ethereum ETFs, after a brief outflow at the start of the week, turned positive for four consecutive days from midweek, indicating an improvement in institutional fund flow.

Farside data shows that Bitcoin spot ETFs experienced net inflows of $167.1 million, $246.9 million, $115.2 million, $53.8 million, and $180.4 million on March 9, 10, 11, 12, and 13 respectively, totaling about $763.4 million. During the same period, Ethereum spot ETFs recorded net flows of -$51.3 million, $12.6 million, $57 million, approximately $115 million, and $26.7 million, totaling about $160.9 million.

In terms of price performance, Ethereum also rebounded during the week. Ethereum closed at $1,992.94 on March 9 and rose to $2,097.09 by March 14, with intraday highs exceeding $2,206; Bitcoin closed at $71,214.63 on March 14. This indicates that during the ETF fund inflow period, Ethereum regained above $2,000, and Bitcoin returned to the $70,000 range.

Focusing solely on Ethereum ETF momentum, midweek marked a clear turning point. On March 9, it was still a net outflow, but from March 10 onward, it turned into net inflows for four consecutive trading days, with a single-day net inflow of about $115 million on March 12, the highest of the week. This roughly coincides with the acceleration of Ethereum’s upward movement in the latter half of the week.

The market generally attributes this rebound to two factors. On one hand, ETF fund inflows provided a clear signal of increased buying interest; on the other hand, geopolitical risks increased, and cryptocurrencies performed relatively strongly in mid-March. MarketWatch pointed out that despite pressure in stock and bond markets, crypto ETFs rose against the trend on March 13, with the iShares Bitcoin Trust up 2.2% and the iShares Ethereum Trust up 3.4%. During the same period, some funds viewed cryptocurrencies as alternative assets amid regional financial pressures, driving Bitcoin and Ethereum to recover from earlier lows.

Weekend trends continued the strong pattern from last week. Ethereum closed at $2,097.09 on March 14 and reached $2,111.19 intraday on March 16; Bitcoin closed at $71,214.63 on March 14 and hit $72,523.18 intraday on March 16. According to Binance data, at the time of writing, Bitcoin was trading at $72,713.9 and Ethereum at $2,237.5, indicating continued buying interest after the weekend.

However, future trends still face significant uncertainties. Multiple central banks worldwide are scheduled to hold policy meetings this week, and tensions in the Middle East along with oil price fluctuations continue to complicate inflation outlooks. Asian markets remain cautious about the Persian Gulf situation on Monday, with Brent crude oil returning to around $104 per barrel. This suggests that while the crypto market is supported by ETF inflows in the short term, sustained high oil prices and rising inflation expectations could still lead to volatility in risk assets.

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