🚀 Cryptocurrency ETF fund flows diverged last week: Bitcoin ETF was favored while Ethereum ETF was out of favor!
According to the latest data from SoSoValue, the Bitcoin spot ETF saw significant capital inflows last week, with total net inflows reaching $308 million in a single week.
Among them, BlackRock's Bitcoin ETF IBIT performed particularly well, with a net inflow of up to US$140 million in a single week, and its total historical net inflow reached US$21.70 billion. Followed by Fidelity’s Bitcoin ETF FBTC, with weekly net inflows of $138 million, and the total historical net inflows have accumulated to $9.99 billion.
However, Grayscale’s ETF GBTC experienced capital outflows in a single week, with a net outflow of US$50.02 million, and its total historical net outflow has reached US$20.19 billion.
Currently, the total net asset value of Bitcoin spot ETFs is as high as US$58.66 billion, accounting for 4.71% of the total market value of Bitcoin, and the historical cumulative net inflow is US$18.81 billion.
On the other hand, the Ethereum spot ETF experienced a net outflow of US$5.22 million last week. Among them, Grayscale's Ethereum Trust ETF ETHE also faced capital outflows, with a weekly net outflow of US$19.08 million, and its total historical net outflow increased to US$2.98 billion. In contrast, BlackRock’s Ethereum ETF ETHA attracted capital inflows, with weekly net inflows of $17.85 million, bringing total historical net inflows to $1.21 billion.
At present, the total net asset value of Ethereum spot ETF is US$6.735 billion, accounting for 2.28% of the total market value of Ethereum, but the historical cumulative net outflow has reached US$559 million.
🧐 Conclusion:
The flow of ETF funds in the cryptocurrency market last week showed an obvious trend of differentiation to a certain extent. These changes in capital flows may be affected by the market's response to different product features and fee structures on the one hand, and may also be related to the market's expectations for the future price trends of Bitcoin and Ethereum on the other hand.
However, for the cryptocurrency market, ETF inflows may bring more stability and maturity to the market, while also providing investors with more investment options and convenience.
💬Do you think these fund flows signal a change in market trends, or are they just short-term market fluctuations? Leave your opinion in the comments!
