MEXCWhy Ethereum ETFs Are Soaring While Bitcoin Sees Record Outflows
Highlights
- The recent push for staking in Ethereum ETFs is boosting investor interest.
- Since inception, BlackRock's ETHA's total inflows have exceeded $4.6 billion.
- Spot Bitcoin ETFs have faced significant outflows over the past two trading sessions, totaling $616 million on Friday.
Spot Ethereum ETFs have recorded ten consecutive days of inflows, showing growing institutional demand for the asset, while Bitcoin ETFs have seen a surge in outflows over the past two trading sessions. This shift in institutional capital rotation could be due to the recent push to introduce staking to Ether ETFs. Furthermore, with 40% gains on the monthly chart, ETH has outperformed BTC in recent times.
Ethereum ETF Inflows On the Rise
Over the past ten trading sessions, inflows into spot Ether ETFs have gathered pace, with BlackRock’s iShares Ethereum Trust (ETHA) dominating the flows. As per data from Farside Investors, ETHA inflows stood at $70.2 million on Friday, as per data from Farside Investors.
As a result, its total inflows since inception have crossed more than $4.6 billion, while taking the net flows across all US ETF issuers to more than $3 billion, since inception. Similar to Ethereum price gains, the ETHA share price has also surged by 44% over the past month, now trading at $19.49.
Earlier this month, BlackRock amended the S-1 filing for its Ethereum ETF ETHA to allow in-kind redemption. Soon after that, the inflows into ETHA have gathered momentum again. Furthermore, asset managers are pushing for the SEC to introduce staking to Ether ETFs soon. On Friday, asset manager RexShares filed a prospectus to bring staking to Ether ETF products in the United States. Asset manager BlackRock is also pushing for the same.
Although inflows into spot Ethereum ETF have been on the rise, it won’t have much impact on spot ETH price, according to the latest study from Glassnode. This is because the contribution of ETFs to the daily trading volumes of spot Ether is negligible at 1.5% or below.
Bitcoin ETFs See Outflows Soaring
Spot Bitcoin ETFs outflows have been on the rise in the last two consecutive trading sessions. On Friday, total outflows on Bitcoin ETFs stood at $616 million, with BlackRock’s IBIT alone contributing to $430 million. Apart from this, Ark Invests’ ARKB saw more than $120 million of outflows.
However, these recent outflows came after a month of massive inflows, crossing $44 billion. This is also completed with the Bitcoin price rally to $111K, however, the recent pullback shows a shift in investor sentiment.
- Crypto Market Tumbles as Jerome Powell Says December Rate Cut ‘Far From Certain’
- FOMC Meeting: Federal Reserve Lowers Interest Rates by 25 Bps in Second Cut of the Year
- WLF Token Jumps 7% as Former Robinhood Counsel Joins Trump-Backed World Liberty Financial
- Changpeng Zhao “CZ” Warns Investors “Don’t Buy” Golden Statue Meme Coin After 27,000% Surge
- Markets Expect October Fed Rate Cut as Bitcoin Repeats Post-FOMC Pattern
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
- Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
