Bitcoin ETFs Record 5th Day of Inflows, Ethereum ETFs Face 12-Day Outflows

U.S. Bitcoin exchange-traded funds (ETFs) have recorded five consecutive days of net inflows, reversing a trend of outflows that saw investors withdraw over $5 billion in the past five weeks. This week alone, Bitcoin ETFs have accumulated 6,000 BTC, with total assets under management reaching $92.25 billion, representing 5.53% of the total Bitcoin supply. Bitcoin ETFs also attracted $660 million in inflows this week.

The recovery in Bitcoin ETFs contrasts with Ethereum ETFs, which have experienced 12 consecutive days of outflows, shedding $370 million in assets over the period. The total assets under management for Ethereum ETFs now stand at $6.72 billion, or 2.78% of the total Ethereum supply. Ethereum's price has declined to $1,950 from $2,200 earlier this month. Analysts attribute Ethereum's struggles to a lack of staking options, with 33.8 million ETH currently staked, and broader concerns about its competitiveness compared to other blockchains.

Institutional investors, including BlackRock, Fidelity, and Grayscale, have been key players in the Bitcoin ETF market, with BlackRock reportedly purchasing over 2,000 BTC during this period. NYSE Arca has filed a proposal to allow staking for Ethereum ETFs, which analysts believe could improve their performance. Observers note that the renewed inflows into Bitcoin ETFs highlight institutional interest in the asset, even as Ethereum's recovery remains sluggish.

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