Bitcoin spot ETFs shed $388M in weekly outflows while Ethereum ETFs gain $349M
The post Bitcoin spot ETFs shed $388M in weekly outflows while Ethereum ETFs gain $349M appeared on BitcoinEthereumNews.com.
Bitcoin spot ETFs shed almost $388 million in weekly outflows between December 23 and 27. On the other hand, Ethereum realized a $349M net inflow over the same period. Although Bitcoin spot ETFs saw a significant shed, Fidelity’s FBTC stood out with a noteworthy weekly flow of $183 million. The mixed performance within the Bitcoin ETFs makes it difficult to assess investor mood during Christmas. Following the shed, Bitcoin spot ETFs net asset value is $106.683 billion. The latest outflows show that investors could be replanning their holdings due to market uncertainties compared to the past inflow periods. Only a few ETFs, like Fidelity’s FBTC, displayed resilience, posting gains throughout the period. Ethereum ETFs surged as investors pivot toward ETH’s promising ecosystem While Bitcoin ETFs saw serious outflows, Ethereum spot ETFs ran in the opposite direction, realizing inflows of almost $349 million from December 23 to December 27. BlackRock’s ETHA took the lead in this upward trend, amassing a weekly inflow of $182 million. Fidelity’s FETH came second with $160 million in inflows. The upward trend highlights investor curiosity in digital assets based on ETH. Ethereum ETFs have remained steady and vibrant for several weeks, maintaining positive inflows. Compared to Bitcoin ETFs, Ethereum ETFs are proving supremacy in drawing both institutional and individual investors. Some top traders, such as Eugene Ng, clarified that institutional interest in ETH is not a new concept. Eugene holds that ETH’s performance will stand out from BTC’s due to its welcoming ecosystem. The trend will be upheld due to the rise in flexibility. Eugene also predicts that ETH will be one of the best-performing assets in the first quarter of 2025. ETH could pump in Q1 2025 Ether has the potential to rally in the first quarter of 2025. However, analysts warn that the macro climate…
Filed under: News - @ December 30, 2024 11:23 am