Ethereum ETF Inflows Overtake Bitcoin ETFs by Nearly 10x in a Week
Spot Ethereum ETFs have attracted $1.83 billion in inflows over the past five trading sessions, nearly 10 times the $171 million seen by Bitcoin ETFs.
Ethereum ETFs Outperform Their Bitcoin Counterpart
On Wednesday, the trend of stronger inflows into Ether funds persisted, with nine ETH funds recording $310.3 million in net inflows, compared to $81.1 million across 11 spot Bitcoin funds. BlackRock’s ETHA dominated most of the inflows at $262 million, thereby taking the total inflows since inception to more than $13 billion.
The BlackRock Ethereum ETF (ETHA) recorded net inflows of 57,584 ETH, valued at $265.74 million, on August 27, with $1.6 billion in trading volume.
This marks the fifth consecutive day of inflows for ETHA, bringing the cumulative total to $1.2 billion
8/27 BlackRock ETH ETF $ETHA Net flow 57,584 ETH ($265.74 million) Volume traded: $1.6 billion
Meanwhile, Nate Geraci, president of NovaDius Wealth Management, noted that spot Ether ETFs have accumulated nearly $10 billion in inflows since the beginning of July.
Launched 13 months ago, these ETFs have seen total aggregate inflows of $13.6 billion. A large part of the inflows have come just over the past three months.
Apart from retail investors, Investment advisers are the biggest buyers of Spot Ethereum ETFs, as per the latest data from Bloomberg Intelligence.
Bloomberg ETF analyst James Seyffart reported on August 27 that investment advisers are now the main holders of Ether ETFs. They invested more than $1.3 billion, equal to 539,000 ETH, in Q2, which is a 68% increase from the previous quarter.
Yesterday, we published our note on the top holders of Ethereum ETFs. Advisors are dominating the known holders and have pulled away from Hedge Funds. pic.twitter.com/qvP6ZGN3VI
Vincent Liu, Chief Investment Officer at Kronos Research, stated that as more advisers embrace Bitcoin and Ether ETFs, cryptocurrencies are increasingly being positioned as a long-term diversification tool in traditional portfolios, alongside equities, bonds, and other mainstream assets.
As a result, Ether price has outpaced Bitcoin this week, climbing 5% from Tuesday’s low. On the other hand, Bitcoin gained just 2.8% over the same period.
The latest reports show that institutional ETH purchases have been on the rise, amid renewed confidence in the asset.
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