Spot Bitcoin ETFs Surge as Ether Funds Experience Significant Outflows
- Spot Bitcoin ETFs saw $332.7 million in net inflows on Tuesday.
- Ethereum ETFs experienced $135.3 million in net outflows, with Fidelity’s FETH losing $99.2 million.
- Ether funds had an additional $164 million in outflows on Friday, following a strong August.
- In August, Ethereum funds recorded $3.87 billion in inflows, while Bitcoin ETFs faced $751 million in outflows.
- Crypto investment products overall rebounded with $2.48 billion in net inflows last week.
The shift towards Bitcoin is attributed to its renewed “digital gold” narrative amid macroeconomic uncertainty, as noted by industry experts.
Overall, the surge in Bitcoin ETFs contrasts sharply with the significant outflows from Ethereum funds, highlighting a current preference for Bitcoin as a safer asset amidst market volatility.(Source)
