Bitcoin ETFs Surge While Ether ETFs Cool
Spot Bitcoin exchange-traded funds (ETFs) attracted $332.7 million in net inflows on Tuesday, surpassing Ethereum products that saw $135.3 million in outflows, according to SoSoValue data.
Fidelity’s FBTC was the leader with $132.7 million in inflows, followed by BlackRock’s IBIT with $72.8 million. Other issuers, including Grayscale, Ark 21Shares, Bitwise, VanEck and Invesco, also logged positive inflows.
Ethereum funds, meanwhile, lost ground. Fidelity’s FETH accounted for $99.2 million in outflows, and Bitwise’s ETHW shed $24.2 million. Ethereum ETFs also saw $164 million leave the market on Friday. This shift marked a reversal after a strong August, when Ethereum funds recorded $3.87 billion in inflows while Bitcoin ETFs had $751 million in outflows.
Bitcoin’s “digital gold” narrative returns
The momentum for spot Bitcoin ETFs coincides with renewed attention to its “digital gold” role. “Bitcoin is once again attracting institutional flows as its digital gold narrative regains traction,” said Vincent Liu, chief investment officer at Kronos Research.
He pointed out that with gold hitting all-time highs, investor demand for hard assets is climbing, giving Bitcoin an edge over Ether, which appears to be experiencing profit-taking. Liu added that global uncertainty could extend this trend, as Bitcoin benefits from its reputation as a stable, safe-haven asset.
Broader crypto funds see recovery
Crypto investment products as a whole rebounded last week, bringing in $2.48 billion in net inflows after $1.4 billion in outflows the week before.
August closed with $4.37 billion in inflows, pushing year-to-date totals to $35.5 billion, a 58% increase compared with the same period in 2024. Despite this, total assets under management slipped 7% week-over-week to $219 billion.
Sources:
https://cointelegraph.com/news/spot-bitcoin-etfs-lead-332m-inflows-ethereum-funds-bleed