SoSoValue data shows that the spot Bitcoin (BTC) exchange-traded fund (ETF) recorded a net inflow of $332.7 million on Tuesday, leading ahead of the Ethereum (ETH) ETF's net outflow of $135.3 million.
Fidelity's FBTC led the way, attracting $132.7 million in inflows, followed by BlackRock's IBIT with $72.8 million. Other major issuers such as Grayscale, Ark 21Shares, Bitwise, VanEck, and Invesco also reported additional inflows.
The Ethereum (ETH) ETF saw outflows. Fidelity's FETH had a single largest outflow of $99.2 million, while Bitwise's ETHW saw an outflow of $24.2 million. Additionally, the Ethereum ETF experienced a net outflow of $164 million last Friday.
This trend reversal occurred after a strong performance of Ethereum funds in August. At that time, Ethereum funds recorded inflows of $3.87 billion, while Bitcoin (BTC) ETFs saw outflows of $751 million during the same period.
The renewed rise of the spot Bitcoin ETF coincides with the return of the "digital gold" narrative for Bitcoin. According to Vincent Liu, Chief Investment Officer of Kronos Research, in an interview with Cointelegraph, as the digital gold narrative regains attention, Bitcoin is once again attracting institutional inflows.
He pointed out that gold is at historical highs, and the demand for hard assets has significantly increased. In the current macro uncertainty, Bitcoin (BTC) stands out in comparison to Ethereum (ETH), which seems to have entered a profit-taking phase.
Liu believes that as long as global markets remain turbulent, investors will continue to favor Bitcoin, as it is seen as more stable and a safe-haven asset.
Reports indicate that last week, net inflows into crypto investment products reached $2.48 billion, while the previous week saw net outflows of $1.4 billion.
In August of this year, inflows reached $4.37 billion. Year-to-date, cumulative inflows have totaled $35.5 billion, a 58% increase compared to the same period in 2024. The total assets under management decreased by 7% quarter-on-quarter, falling to $219 billion.
Related: Bitmine currently holds 1.86 million ETH, accounting for approximately 1.55% of the total Ethereum supply.
Original article: “Spot Bitcoin ETF Surges Against the Trend, Ethereum Funds Continue to Bleed as Investor Risk Aversion Rises”
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