It was a quiet, risk-off week. Bitcoin ETFs reversed the previous week's $850M+ inflows with roughly $390M in net outflows, while Ethereum ETFs were essentially flat, posting a marginal ~$2M outflow that ended their five-week inflow streak.

Corporate treasury activity was also muted. Strategy remained inactive on the Bitcoin front, focusing on cash management and share buybacks. 

Notable treasury activity:

- H100 recorded the week's largest Bitcoin increase through an acquisition.

- Strive, Capital B, and OranjeBTC made smaller Bitcoin purchases.

- BitMine continued accumulating Ethereum, extending its long-running buying strategy.