Ethereum Gains Momentum as Bitcoin ETFs See Major Outflows

Weekly Spot ETFs

Bitcoin ETF: -$582.10M

Ethereum ETF: +$58.9M

Trend

This week represents a significant change from previous weeks, with a notable outflow in Bitcoin ETFs and a moderate inflow in Ethereum ETFs. The volume of funds has increased compared to previous weeks, with a total movement of $450M, an increase of 53.42%. This increase indicates a shift in market sentiment, suggesting a potential recovery phase for Ethereum ETFs while Bitcoin ETFs face a downturn. For the market and investors, this increase in Ethereum ETF inflows could signal growing confidence in Ethereum's performance, while the outflow in Bitcoin ETFs might reflect profit-taking or a shift in investment strategies.

Biggest Gainer

IBIT with a gain of $45M. Issued by BlackRock, IBIT is a prominent Bitcoin ETF that offers investors exposure to Bitcoin's price movements.

Biggest Loser

FBTC with a loss of $5M. The Fidelity Wise Origin Bitcoin Fund, issued by Fidelity, provides investors with a way to gain exposure to Bitcoin through a traditional investment vehicle.

Day with the Highest Inflow

Monday with an amount of $400M. On this day, BITB saw the highest gain with $50M, while ARKB experienced a loss of $2M. BITB, issued by Bitwise Asset Management, Inc., is designed to track the price of Bitcoin. ARKB, issued by ARK Investment Management LP, offers exposure to Bitcoin through a diversified portfolio.

Day with the Highest Outflow

Friday with an amount of $80M. On this day, EZBC had the highest gain with $20M, while BTCW saw a loss of $8M. EZBC, issued by Franklin Templeton Investments, is a Bitcoin ETF that aims to provide investors with exposure to Bitcoin's price movements. BTCW, another Bitcoin ETF, experienced a significant outflow, indicating a potential shift in investor sentiment.