Recent data indicates that Bitcoin ETFs have attracted significant investments, surpassing Ethereum. Meanwhile, Ethereum ETFs have faced notable outflows.
Inflow into Bitcoin ETFs
Bitcoin ETFs recorded an impressive net inflow of $332.7 million. Leading this influx is Fidelity’s FBTC fund with $132.7 million, followed closely by BlackRock’s IBIT fund with $72.8 million. Other players, such as Grayscale, Ark & 21Shares, Bitwise, VanEck, and Invesco, also witnessed positive inflows.
Outflows from Ethereum ETFs
Conversely, Ethereum ETFs recorded notable outflows totaling $135.3 million. Specifically, $99.2 million was drawn from Fidelity’s FETH fund, while Bitwise’s ETHW fund also experienced a negative flow of $24.2 million.
Price Outlook for Bitcoin and Ethereum
Bitcoin's price has shown resilience, climbing to just over $111,200, maintaining its position above the 100-day Exponential Moving Average. After a 5% contraction earlier, technical indicators suggest weakening bearish momentum. "If recovery continues, Bitcoin may test the $116,000 resistance level," noted a source from SoSoValue.
Current developments show a growing interest in Bitcoin ETFs alongside challenges for Ethereum ETFs. The price outlook for Bitcoin indicates potential further growth, while Ethereum continues to hold key support levels.
