Last week, the US spot ETF market saw a long-awaited signs of growth—both Bitcoin and Ethereum ETFs experienced net capital inflows, totaling close to $496 million, marking the first positive cycle since December's open.

Looking at Bitcoin spot ETFs, last week’s net inflow reached $287 million, breaking a sustained outflow trend this month. Leading the pack was the familiar name—BlackRock’s IBIT with a weekly net inflow of $214 million, bringing its total assets to over $62.7 billion. Fidelity’s FBTC followed closely, with a net inflow of $84.47 million, followed by Bitwise BITB ($24.66 million) and Grayscale BTC ($22.82 million). In the middle tier, Franklin Templeton’s EZBC, Invesco Galaxy BTCO, and WisdomTree BTCW added $8.09 million, $6.5 million, and $987,100 respectively.

Interestingly, not all products rode this wave of enthusiasm. Grayscale GBTC, VanEck HODL, and ARK 21Shares ARKB experienced net outflows—outflows of $38.76 million, $25.14 million, and $11.12 million respectively. This reflects investor strategy adjustments between ETFs, with products from larger institutions attracting relatively stronger interest.

As of now, the total assets under management for Bitcoin spot ETFs stand at $118.27 billion, accounting for 6.57% of Bitcoin’s total market capitalization. Since their launch, these products have accumulated a total net inflow of $57.9 billion.

In the same period, Ethereum spot ETFs also posted a good performance. Last week, they saw a net inflow of $209 million, marking the first positive week since December.

BlackRock’s ETHA led again, with a weekly net inflow of $139 million, bringing its total net inflow to $13.23 billion. Fidelity’s FETH, Grayscale ETH, and Bitwise ETHW contributed $35.35 million, $32.8 million, and $17.91 million in net inflows respectively. VanEck ETHV and 21Shares TETH, though smaller, also maintained growth, recording $14.64 million and $3.75 million respectively.

Notably, Grayscale ETHE was the only Ethereum ETF to experience outflows last week, with a net outflow of $34.17 million—perhaps reflecting a shift in investor preferences toward different product structures.

The total assets for Ethereum spot ETFs now stand at $19.42 billion, representing 5.22% of Ethereum’s total market cap. Since their launch, they have accumulated a total net inflow of $13.09 billion.

Looking at the performance of the two major cryptocurrencies’ ETFs, products from traditional large asset managers like BlackRock and Fidelity continue to attract capital, and the market is gradually consolidating around these compliant, transparent investment tools. Meanwhile, the differences in capital flows among various products also suggest that investors need to make choices among multiple options based on their individual needs.