Spot Ethereum ETFs see $307 million in daily inflows, beating Bitcoin ETFs again
Quick Take
- Spot Ethereum ETFs in the U.S. reported $307 million in net inflows on Wednesday, while spot Bitcoin ETFs logged net inflows of $81.3 million.
- K33 analysts have said bitcoin may face continued weakness in the short term amid heavy rotations into Ethereum.
U.S. spot Ethereum exchange-traded funds saw $307 million in net inflows on Wednesday, continuing to outpace the net inflows reported by spot bitcoin ETFs.
BlackRock's ETHA led with $262.6 million in inflows, followed by Fidelity's FETH with $20.5 million, according to SoSoValue data. Grayscale's Mini Ethereum Trust and ETHE also posted inflows, along with VanEck's ETHV.
Meanwhile, spot bitcoin ETFs reported $81.3 million in inflows, marking their third consecutive day of inflows but still trailing behind spot Ethereum ETFs.
According to K33 analysts, bitcoin may face continued weakness in the near term, as heavy rotations into Ethereum leave the leading cryptocurrency exposed to further near-term declines.
Bitcoin climbed 2% over the past 24 hours to $113,307 as of 3:10 a.m. ET Thursday, while Ethereum was little changed, inching up 0.08% to $4,581, according to The Block’s price page.
The ETH/BTC ratio rose above 0.04 last week for the first time this year, according to TradingView data, highlighting Ethereum's relative strength.
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