Data shows Bitcoin spot exchange-traded funds (ETFs) have continued to see outflows recently while Ethereum funds have diverged with inflows.
Ethereum Spot ETFs Saw Net Inflows On MondayFor Bitcoin and Ethereum, these funds launched in the United States back in January and July 2024, respectively. Whenever a trader invests in one of them, the corresponding fund buys and custodies the cryptocurrency on the investor’s behalf. This means that via these vehicles, traders can get exposure to a digital asset’s price movements without having to interact with any blockchain infrastructure, like wallets and exchanges.
As displayed in the above graph, the Ethereum spot ETF netflow has mostly been negative since May 7th. During this period of capital exit, the ETH price has gone from $2,300 to as low as under $1,600.
Interestingly, however, things have seen a reversal during the last few days. On June 4th, ETH spot ETFs enjoyed net inflows of $19 million, breaking the streak of net outflows. June 5th again saw capital leave the market, although the scale was pretty small. Now, Monday has seen another positive netflow spike, this time involving a significant sum of $82 million.
While, Ethereum has seen conditions improve, the same hasn’t exactly been true for Bitcoin.
From the chart, it’s visible that Bitcoin also saw some inflows on June 4th, but at $3 million, the value of the netflow was as good as neutral. BTC has since continued to face net outflows, with Monday observing an exit of $91 million in capital, more than the amount ETH has seen go the other way.
As such, it would appear that at least some spot ETF investors are currently showing a higher interest in Ethereum relative to Bitcoin.
ETH PriceEthereum has bounced back a bit since its low, as its price is now trading around $1,670.
