- BTC ETFs recorded a $997.6M week inflow
- ETH ETFs showed opposite dynamics and $24.6M outflows
Bitcoin continues to gain interest from institutional investors while Ether has been struggling lately.
Last week we saw BTC ETFs collectively record a $997.6M inflow, and this contrasts with ETH ETFs and their $24.6M outflows.
More on BTC ETFs inflows and ETH ETFs Outflows
Bitcoin is holding attention and had an impressive performance last week, showing $380.42M during the week and complementing that with $402.08M on Friday alone.
The players are well known to you, namely:
BlackRock with its impressive inflows of $1.146B, as well as Fidelity and Grayscale $71.7M and $10.63M respectively.
This could have made the week’s inflows over one billion if not for the zero inflows of Invesco, Franklin Templeton, Valkyrie, and WisdomTree, as well as Ark Invest’s significant outflow of $239.8M.
However, spot ETH ETFs couldn’t boast a good performance last week, and experienced total outflows of 24.45 million. The players are still the same, but the dynamics are different.
Except for BlackRock which even here showed an inflow of $19.1M, and it was also supported by Fidelity Ethereum ETF with $6.25M, but Grayscale Ethereum Trust ETF showed a significant outflow of $56.35M.
Conclusion
Overall, we can assume that Bitcoin ETFs have already fully gained the attention of investors and they are not afraid to invest in it big time, while Ethereum ETFs have not yet achieved a similar thing and are viewed with more caution.
Still, it is worth remembering that both Bitcoin itself and Bitcoin ETFs developed much earlier, so they had a big head start, and perhaps Ethereum still has a lot ahead of it, as we are still seeing impressive investments in it.
We’ll be watching closely, stay tuned.
