Bitcoin ETFs Lose $226 Million While Ethereum Gains $130 Million: Altseason Coming?

On December 23, US spot Bitcoin (BTC) ETFs lost $226 million, while Ethereum ETFs gained $130 million. The significant difference in net flows between these two ETFs has crypto watchers wondering whether an altcoin season is coming.

ETF Capital Flow Shifts From Bitcoin To Ethereum
Bitcoin ETFs have had outflows of almost $1.1 billion since December 19. This pattern follows 15 days of inflows that increased Bitcoin ETF net assets from $100 billion to $121 billion.

Bitcoin ETFs lost $680 million on December 19, the highest single-day outflow since their introduction earlier this year, lowering their net assets to $105 billion. Grayscale's GBTC fund sold 1,870 BTC over three days, contributing to this decrease.

Market commentators attribute recent withdrawals to profit-taking, while some think they indicate a change in investor opinion against the main cryptocurrency. It looks that Bitcoin ETFs may lose considerable money to Ethereum ETFs.

Recent inflow data supports this idea, showing Ethereum ETFs gaining popularity. SoSoValue reported $130 million in Ethereum ETF inflows on December 23, while Bitcoin ETFs recorded $226 million withdrawals.

As institutional interest in the second-largest cryptocurrency by market cap grows, Ethereum ETF capital inflows are projected to rise. A recent report said BlackRock's iShares Ethereum Trust ETF holds over a million ETH.

Ethereum Bullishness Grows

Ethereum underperformed Solana (SOL), SUI, and XRP for much of the year, but experts think it may be turning a corner. This confidence stems from Bitcoin's waning dominance, which many regard as a sign of the long-awaited “altcoin season.”

Bullish technical indicators boost Ethereum's price. On December 22, the daily chart showed ETH/BTC making a higher bottom, suggesting a trend reversal and probable gains for ETH.

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