Bitcoin ETFs have surged with $252 million in inflows, while Ethereum ETFs struggle, potentially widening Bitcoin's dominance.
Leading the pack was BlackRock’s IBIT, with $86.8 million in inflows, followed by Fidelity’s FBTC, which saw $64 million.ETFs have struggled, primarily experiencing outflows since their inception. As of 23rd August, ETH ETFs recorded $5.7 million in outflows.
Notably, BlackRock’s ETHA saw zero inflows, while Fidelity’s FETH, Bitwise’s ETHW, and VanEck managed to record some inflows. “Last week, $ETH spot ETFs had a net outflow of $44 million.$BTC spot ETFs had a net inflow of $506 million.”However, this shouldn’t come as a surprise, given that Ethereum ETFs’ trading volumes on their first day were only a quarter of what spot Bitcoin ETFs achieved on their debut.The launch of Spot Bitcoin ETFs created significant excitement in the market, setting a high standard that Ethereum ETFs have yet to match.
While Bitcoin ETFs saw impressive trading volumes right from the start, Ethereum ETFs have struggled to generate similar interest, reflecting a more subdued market response and indicating that they have not captured the same level of enthusiasm.That being said, following the launch of Bitcoin ETFs, BTC soared to a new all-time high of $73K in March.
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