Recent days have shown a stark shift in investor interest from Ethereum to Bitcoin. Despite Ethereum's recent successes, projections indicate a comeback for Bitcoin ETFs in the market.
Market Performance of Bitcoin and Ethereum ETFs
Bitcoin ETFs recorded $332.8 million in net inflows, while Ethereum ETFs experienced $135.3 million in outflows. This ends the recent dominance of ETH funds in the market.
Fidelity's Impact on Capital Flows
A significant portion of inflows to Bitcoin funds came from Fidelity's FBTC, which attracted $132.7 million. BlackRock's IBIT recorded inflows of $72.9 million but has faced substantial capital losses since its launch.
Long-Term Trends in the Cryptocurrency Sector
As the Bitcoin market rebounds, ETH is encountering outflows. Over the past week, investors withdrew $164.6 million from Ethereum products, reflecting a change in sentiment within the crypto community.
The data indicates that interest in Bitcoin is rising again, while Ethereum is losing ground amid capital outflows and changing investor sentiment.
