Spot Ethereum ETFs see 10 days of inflows, led by BlackRock’s ETHA, while Bitcoin ETFs face outflows, signaling a shift to altcoins.
Spot Ethereum ETFs have seen ten straight days of inflows, reflecting rising institutional interest in the asset. At the same time, Bitcoin ETFs have experienced a spike in outflows over the past two trading sessions. This shift in institutional capital allocation may stem from recent efforts to introduce staking to Ether ETFs. With a 40% gain on the monthly chart, ETH has recently outperformed BTC.
Ethereum ETF Inflows Surge
Over the last ten trading days, spot Ether ETF inflows have accelerated, with BlackRock’s iShares Ethereum Trust (ETHA) leading the charge. According to Farside Investors, ETHA recorded $70.2 million in inflows on Friday.
Consequently, its total inflows since launch have exceeded $4.6 billion, pushing the net flows across all U.S. ETF issuers to over $3 billion since inception. Mirroring Ethereum’s price gains, ETHA’s share price has climbed 44% in the past month, now trading at $19.49.
Earlier this month, BlackRock updated the S-1 filing for its Ethereum ETF ETHA to permit in-kind redemption. Since then, ETHA inflows have regained momentum. Moreover, asset managers advocate for the SEC to allow staking in Ether ETFs. On Friday, RexShares submitted a prospectus to introduce staking to Ether ETF products in the U.S., with BlackRock also supporting this push.
Despite the rising inflows into spot Ethereum ETFs, a recent Glassnode study suggests they have minimal impact on spot ETH prices, as ETFs account for just 1.5% or less of daily spot Ether trading volume.
Bitcoin ETF Outflows Climb
Spot Bitcoin ETF outflows have surged over the last two trading sessions. On Friday, total outflows reached $616 million, with BlackRock’s IBIT alone accounting for $430 million. Additionally, Ark Invest’s ARKB saw over $120 million in outflows.
These recent outflows follow a month of significant inflows, totaling $44 billion, coinciding with Bitcoin’s rally to $111,000. However, the recent price pullback indicates a shift in investor sentiment.
