The post Bitcoin ETFs lagged behind Ether ETFs ahead of Thanksgiving appeared on BitcoinEthereumNews.com.

Spot Bitcoin exchange-traded funds in the U.S. have experienced significantly lower inflows compared to their Ethereum counterparts during the last four trading days, from Nov. 22 to the day before Thanksgiving. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $32.2 million in inflows over the last four trading days between Nov. 22 and Nov. 27, which stood significantly lower than the $224.8 million inflows recorded by the nine spot Ethereum ETFs over the same period. The interesting scenario comes as Bitcoin saw a 2.7% drop in its price over the last 7 days compared to a 5.3% Ether price rally over the same period.  Depending on how trading unfolds on Nov. 29, U.S. Ether funds might outpace spot Bitcoin ETFs in weekly net inflows for the first time. Despite the recent slowdown in inflows, spot Bitcoin ETFs have still achieved a record-breaking month, with over $6.2 billion in net inflows for November, surpassing the previous record of $6.2 billion set in February, market commentator Nate Geraci noted in an X post.  Notably, the BTC ETFs recorded their highest inflow week between Nov. 18-22 when the ETFs saw $3.38 billion in inflows pushing Bitcoin towards its all-time high of $99,645 towards the end of last week. Meanwhile, the recent surge in inflows into Ether ETFs is likely linked to Ethereum’s price rally, which may have been influenced by crypto privacy mixer Tornado Cash’s partial victory in U.S. courts. Additionally, investor interest in Ethereum may have increased following reports that former SEC commissioner and crypto advocate Paul Atkins is now the leading candidate to replace Gary Gensler as SEC Chair. This development has heightened expectations of a more favorable regulatory environment for the DeFi space under a Donald Trump-led U.S. administration. At press time Bitcoin (BTC) was up 0.6%…

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Filed under: News - @ November 29, 2024 7:15 am