📈 Ether ETFs Surge While Bitcoin ETFs Face Outflows
📊 Ether exchange-traded funds (ETFs) are gaining significant traction, recording a remarkable $534 million inflow over the past two days. In contrast, bitcoin ETFs experienced a decline, with $68 million in outflows.
💰 This marks the 13th consecutive day of inflows for ether ETFs, which have now accumulated $533.87 million. Blackrock’s ETHA led the charge, attracting $426.22 million, followed by Grayscale’s Ether Mini Trust with $72.64 million and Fidelity’s FETH adding $35.01 million. No ether ETF reported outflows, indicating strong bullish sentiment among investors.
📈 Trading volumes for ether ETFs remained steady at $1.97 billion, pushing net assets to $19.85 billion. Bitcoin ETFs, on the other hand, faced challenges due to significant redemptions from Bitwise’s BITB (down $42.27 million) and Ark 21Shares’ ARKB (down $33.18 million). A small inflow of $7.51 million into Grayscale’s GBTC was not enough to offset the overall negative trend.
🔄 Despite these outflows, trading activity for bitcoin ETFs remained robust at $4.01 billion, with net assets standing at $154.77 billion. This suggests that the current dip may be a temporary cooling-off period rather than a long-term trend reversal.
📉 As ether ETFs continue their impressive inflow streak and bitcoin ETFs navigate through minor turbulence, the market narrative appears to be shifting towards ether dominance in the short term.
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