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✨Ether ETFs Drop for Second Week as Bitcoin ETF Inflows Spike🧨
Recent shifts in investor sentiment are evident as spot Ethereum ETFs face two consecutive weeks of withdrawals, contrasting with renewed interest in Bitcoin ETFs. Market dynamics suggest a rotation where cryptocurrencies like Bitcoin are attracting institutional inflows amid ongoing regulatory and macroeconomic uncertainties, while Ethereum experiences a tapering of demand.
Ethereum spot ETFs experienced $243.9 million in outflows over the past week, marking a second consecutive week of investor exit.
Despite outflows in Ethereum funds, Bitcoin ETFs re-entered the spotlight with $446 million in net inflows, reflecting renewed institutional interest. BlackRock's ETHA ETF led Ethereum withdrawals with $100.99 million, while Bitcoin funds like BlackRock's IBIT and Fidelity's FBTC attracted significant investments.
Market analysts interpret the shifting flows as a rotation toward Bitcoin's perceived safe-haven status amid ongoing macroeconomic concerns.
Ethereum's demand remains subdued, with investors waiting for new catalysts to boost on-chain activity and investment flows.
After months of robust inflows, spot Ethereum ETFs are witnessing a notable retreat, with two straight weeks of investor redemptions signaling a potential shift in market sentiment. According to data, Ethereum-focused products saw net redemptions of $243.9 million in the week ending Friday, following the previous week's $311 million outflow. Despite these declines, overall assets under management across all Ether ETFs stand at approximately $26.39 billion, representing about 5.55% of Ethereum's total market cap.
On the same day, Bitcoin ETFs experienced renewed enthusiasm, with $446 million in net inflows, signifying a strong comeback driven by institutional investors. Friday alone saw an influx of $90.6 million, pushing total assets to nearly $150 billion. Leading the inflows were BlackRock's iShares Bitcoin Trust (IBIT), which gained $32.68 million, and Fidelity's FBTC, adding $57.92 million. BlackRock's Bitcoin ETF continues to dominate the market.
#CryptoRegulationAcceleration #TradeRelationsUpdate #AreYouBullishOrBearishToday?