Bitcoin & Ethereum Diverge—ETF Flows Just Flipped The Narrative
Demand for spot exchange-traded funds (ETFs) has decreased for Bitcoin, while Ethereum continues to attract inflows. Bitcoin's spot ETF holdings recently experienced net outflows for the first time in eight weeks, dropping to 1.20 million BTC, down approximately 11,500 BTC from a peak in late May. In contrast, Ethereum's spot ETFs have seen four consecutive weeks of net inflows, accumulating 97,800 ETH, though total holdings remain below the February peak of 3.81 million ETH, currently at 3.77 million ETH. The SEC approved Bitcoin spot ETFs in January 2024 and Ethereum in July 2024. Bitcoin's price has increased by about 2% recently, reaching $107,600. The future trajectory of both cryptocurrencies remains uncertain amid this divergence in ETF demand.
