Key points:
Last week, the outflow of Bitcoin spot ETFs reached $138 million, breaking a streak of seven weeks of inflows, while BlackRock's IBIT had inflows of $405 million.
The outflow of Ethereum ETFs exceeded that of Bitcoin spot ETFs, with total inflows of $467 million, including BlackRock's ETHA inflowing $300 million and Fidelity's FETH inflowing $120 million.
The outflow of Bitcoin spot ETFs reached $138 million last week after seven weeks of inflows, while BlackRock's IBIT saw inflows of $405 million. The total inflow for Ethereum ETFs was $467 million.
The outflow of Bitcoin spot ETFs breaks a streak of seven weeks of inflows.
Last week, the Bitcoin spot ETF experienced a net outflow of $138 million after seven consecutive weeks of net inflows. Despite the outflow of funds, BlackRock's IBIT ETF still saw an inflow of $405 million weekly, indicating investor trust in this leading provider.
During this period, the inflow of Ethereum remained stable, while Bitcoin ETFs experienced significant fluctuations. Sosovalue attributes this reversal to market variables, including Bitcoin price volatility and macroeconomic concerns affecting investor sentiment.
Bitcoin outflows, while Ethereum ETF inflows remain strong.
The inflow of Ethereum spot ETFs is $467 million, while the outflow of Bitcoin spot ETFs is $138 million. BlackRock's ETHA has the highest net inflow at $300 million, followed by Fidelity's FETH at $120 million. These numbers indicate that investors are very interested in Ethereum-based ETFs.
The significant inflow into Ethereum indicates its importance in the expanding cryptocurrency space. Analysts state that Ethereum's applications in decentralized finance (DeFi) and the enhanced scalability of Ethereum 2.0 have increased confidence. The diversified preferences of institutional investors compared to Bitcoin are highlighted.
