The U.S.-listed Spot Ethereum exchange-traded fund (ETF) recorded net outflows of $70.62 million on Friday, ending a five-day streak of inflows.
Ethereum funds have seen net inflows of $211.25 million over the past five sessions from July 17 to Thursday, according to SoSoValue data. The week ending Friday also saw net inflows of $103.9 million.
Despite the outflows, the Ethereum ETF has extended its weekly inflow streak to the third consecutive time, attracting $337.74 million in net inflows so far in July.
Spot crypto ETF flows have become one of the most followed indicators in the market to measure Bitcoin demand ($BTC) and ether ($ETH) through traditional investment products.
Similar funds have been launched in other jurisdictions, including Hong Kong, but U.S.-listed ETFs account for the bulk of assets and trading volume.
Daily spot Ethereum ETF net flows from July 17th to July 24th. Source: SoSoValue
Bitcoin ETF also ends the weekend with outflows
The reversal followed a similar pattern for the Bitcoin ETF, which ended its seven-day streak of inflows on Thursday and recorded another $240.08 million in net outflows on Friday.
Bitcoin ETFs also extended their streak of net inflows to a third consecutive week, adding $103.9 million in the week ending Friday and $233.96 million so far in July. In June, $4.5 billion flowed out of the fund, a record high.
$BTC At the time of writing, it was trading at just under $64,000, down from Tuesday’s weekly high of $66,892, according to CoinGecko. $ETH It traded at $1,837, down from Wednesday’s weekly high of $1,954.
Bitcoin ETF expected to reach $18.4 billion due to Japan’s cryptocurrency reform
Following Japan’s recent crypto regulatory overhaul, which is widely seen as laying the foundation for future spot Bitcoin ETFs, crypto management platform XWIN has estimated that the mature Japanese spot Bitcoin ETF market could reach approximately $18.4 billion, equivalent to approximately 0.13% of Japan’s $14.6 trillion in household financial assets.
In an analysis published on CryptoQuant, XWIN stated that this estimate assumes demand from existing crypto holders, new individual investors using brokerage accounts, and institutional investors.
Citing the US market as an example, the report notes that Grayscale’s Spot Bitcoin ETF excluding GBTC has accumulated approximately 1 million Bitcoins, demonstrating how regulated ETF products can connect traditional finance and digital assets.
“The key is access,” XWIN said, adding that Japan’s Spot Bitcoin ETF allows investors to gain Bitcoin exposure through a familiar intermediary and custodial system. The magazine characterized the $18.4 billion figure as “the upper end of the achievable market scenario.”
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