Bitcoin ETFs See Sustained Inflows Amidst Ethereum ETF Outflow Struggles

The ETFs in the United States have recently displayed a noteworthy activity with a huge divergence between Ethereum and Bitcoin funds. As per the data provided by Spot On Chain (a well-known on-chain analytics firm), Bitcoin ETFs witnessed $203M in net inflows while Ethereum ETFs incurred $13M in outflows on August 26. The analytics provider revealed the current standing of the individual exchange-traded funds on its official social media account.

🚨 US #ETF 26 AUG: 🟢$203M to $BTC and 🔴$13M to $ETH
🌟 BTC ETF UPDATE (final): +$203M
• The net flow has remained positive for 8 consecutive trading days!
• #BlackRock (IBIT) saw a massive inflow of $224M, the highest level in the past 25 trading days.
🌟 ETH ETF UPDATE… pic.twitter.com/x1slIQbD94
— Spot On Chain (@spotonchain) August 27, 2024

Bitcoin ETFs Maintain Dominance over Ethereum ETFs with $203M in Net Inflows

Spot On Chain mentioned in an X post that the current divergence between Ethereum and Bitcoin ETFs reflects the contradictory investor sentiment. BTC ETFs saw a significant amount of $203M in net inflows. This marks the 8^th consecutive day in terms of positive flows for Bitcoin. Throughout the previous week, Bitcoin ETFs maintained a positive outlook. Particularly, on Tuesday and Friday, the Bitcoin ETFs recorded staggering inflows of $88M and $252M respectively.

This respective consistent inflow signifies the increasing confidence among investors in Bitcoin. On the 26^th of August, BlackRock (IBIT) led the Bitcoin ETF market with a substantial inflow of $224M. This represents the top single-day inflow witnessed over the recent twenty-five trading days. Additionally, Franklin (EZBC) and WisdomTree (BTCW) saw $5.5M and $5.1M in inflows.

ETH ETFs See Sheer Negative Flows of $13.2M

On the other hand, the Ethereum ETF market has shown massively negative flows on August 26. Out of 9 ETH ETFs, 6 witnessed no flows at all. However, the other 3 ETH exchange-traded funds experienced $13.2 in outflows. The current outlook of the Ethereum ETFs is also a continuation of the gradual decline seen in the previous week. The week began with $13.5M leaving ETH ETFs.

As a result of the continuation of this trend, these ETFs incurred losses of almost $5.7M on Friday. On August 26, Grayscale (ETHE) maintained its position as the top ETH ETF in terms of negative flows. The cumulative outflows of Grayscale (ETHE) reportedly reached $9.5M on August 26. Franklin (EZET) incurred a net outflow of $1 million. Apart from that, Fidelity (FETH) recorded $2.7 in outflows.

Source: https://blockchainreporter.net/bitcoin-etfs-see-sustained-inflows-amidst-ethereum-etf-outflow-struggles/