Bitcoin and Ethereum spot exchange-traded funds (ETFs) collectively accumulated $448 million in net inflows today. Bitcoin marked the second week of sustained inflows, while Ethereum reversed a two-week sustained outflow.
Based on on-chain data, Bitcoin spot ETFs accumulated roughly $202 million in new inflows, which represented their fourth consecutive day of net inflows. Ethereum spot ETFs also recorded $246 million in net inflows yesterday, effectively ending a two-week streak of outflows.
ETH sustained outflows had previously triggered concerns over a possible slowing of demand for Ethereum-based assets.
Ethereum’s institutional demand rebounds, reversing a two-week sustained outflow
According to Farside data, Ethereum has shifted from the cumulative outflows of roughly $550 million over the last two weeks to sustained inflows of $246 million this week. So far, the total net inflow for ETH ETFs stands at $14.73 billion, with total net assets of $27.66 billion, representing 5.76% of the total ETH supply, based on SoSoValue data.
The Fidelity Ethereum Fund (FETH) ETF led in inflows with $99.3 million recorded today, marking the strongest inflow since October 14, at $156 million. BlackRock’s iShares Ethereum Trust ETF recorded $76.3 million today, marking a two-day consecutive inflow after yesterday’s $72 million net inflow. On the other hand, Grayscale’s ETHE posted $73 million in net inflows, marking a three-day consecutive net inflow after the previous $7.4 million and $15.8 million net inflows.
The sustained outflows on Ethereum ETFs during the previous two weeks, totaling almost $550 million, were attributed to cooling demand for Ethereum-based tokens and a rotation towards Bitcoin assets. The return in inflows suggests that institutions have regained confidence in Ethereum asset classes and their long-term fundamentals, particularly as staking yields stabilize and Layer-2 network activity shows renewed growth.
Based on Farside data, Bitcoin also maintained last week’s inflows, marking the fourth consecutive day of sustained inflows. Bitcoin ETFs recorded a combined $202 million net inflows, adding to last week’s $446 million. The latest record inflows have pushed the cumulative total net inflow of spot Bitcoin ETFs to $62.34 billion, with a total net asset value of $154.81 billion, representing 6.88% of the total BTC supply, based on SoSoValue data.
BlackRock’s IBIT ETF adds $448 million in 6 days
Ark& 21Shares Bitcoin Trust (ARKB) ETF led the round of inflows with $75.84 million in net inflows, marking a two-day consecutive inflow after yesterday’s $75 million. Fidelity Wise Origin Bitcoin Fund (FBTC) registered $67.05 million in net inflows, adding on last week’s cumulative inflow of approximately $52.3 million.
BlackRock’s iShares Bitcoin Trust (IBIT) ETF recorded a net inflow of $59.6 million, marking a 6-day consecutive inflow, adding approximately $448 million since last week. Bitcoin ETFs have cumulatively added roughly $797 million since last week.
“BTC and Spot ETH ETFs see strong inflow, showing rising institutional confidence. If macro conditions hold, this surge could strengthen liquidity and drive momentum for both assets.”
–Vincent Liu, Chief Investment Officer at Kronos Research
The rebound in Bitcoin and Ethereum ETFs shows improving market sentiment amid expectations of monetary easing ahead of today’s FOMC meeting and renewed risk appetite. Cryptopolitan also noted last week that Bitcoin’s dominance of over 59% has been reinforced this year, compared to Ethereum’s just a little over 12%.
The report noted that Bitcoin lost its dominance briefly in 2018 and 2022 during bearish periods, but this has since been reversed, with BTC hitting a new all-time high at the beginning of this month. The renewed confidence in the token has contributed to attracting institutional capital.
Bitcoin was trading near $113,110, representing a 1.2% drop on the daily timeframe at the time of publication. On the other hand, Ethereum was trading at around $4,009, representing a 2.8% drop on the 24-hour timeframe.
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