Recent days have seen remarkable growth in the volume of funds directed into Bitcoin ETFs. These investments remain popular among institutional investors, while the Ethereum ETF market experiences a slowdown.
Strong Growth in Bitcoin ETFs Led by BlackRock
In the U.S., Bitcoin ETFs have shown an eight-day streak of net inflows, registering $2.4 billion during this period. BlackRock's IBIT fund emerged as the leader, attracting $278.9 million, while Fidelity's FBTC increased by $104.4 million. Notably, BlackRock alone accounted for over $2.3 billion, approximately 96% of the total inflow. Since the beginning of the year, the sector has accumulated roughly $11.5 billion, and since their market debut in January 2024, total inflows have reached $46.9 billion.
Slowdown in Ethereum ETF Market
While Bitcoin ETFs demonstrate growth, Ethereum ETFs are showing signs of struggle. The recent inflow of only $19.1 million is a sharp decline from the record $1.4 billion net inflow over a previous 19-day period. The main contributor to this inflow was again BlackRock's fund, contributing $15.1 million. Since their launch in late July 2024, Ethereum ETFs have cumulatively attracted $3.9 billion.
Expert Opinions on Cryptocurrency's Future
According to BRN analyst Valentin Fournier, despite growing institutional flows, the overall momentum for Ethereum has weakened due to geopolitical tensions and a lack of catalysts. Noting that Bitcoin has declined by 0.3% over the past 24 hours and 2.5% over the past week to $104,810, some experts, like David Hernandez from 21Shares, offer a more optimistic perspective, emphasizing that Bitcoin remains above $100,000 and showcases resilience amidst geopolitical shocks.
Despite the growth of Bitcoin ETFs and the uncertainty surrounding Ethereum, the overall trend in the cryptocurrency market continues to attract the attention of institutional investors responding to changes in the macroeconomic environment.
