Bitcoin Spot ETFs experienced a first outflow post 7-week inflows, while Ethereum ETFs attracted substantial investments.
Bitcoin ETF Setback: Recent Statistics
Last week, Bitcoin Spot ETFs registered a first outflow of $138 million following seven weeks of continuous inflows. Nonetheless, BlackRock's IBIT sourced $405 million inflows, showcasing investor trust in the leading provider.
Ethereum ETF: Success Amid Bitcoin Decline
Ethereum spot ETFs attracted $467 million, while Bitcoin Spot ETFs noted a $138 million outflow. Leading the pack, BlackRock's ETHA amassed $300 million, followed by Fidelity's FETH at $120 million. These figures display a strong investor interest in Ethereum-based funds.
Market Influencing Factors
During this period, Ethereum's influx underscores its importance in the expanding crypto sector. Its utilization in decentralized finance and Ethereum 2.0 scalability enhancements boosts confidence, analysts say, highlighting diversified preferences unlike Bitcoin.
While Bitcoin ETFs face volatility, Ethereum continues to attract significant investments, highlighting institutional investors' diversified preferences.
