🌎 Ethereum ETFs Surpass Bitcoin in Weekly Net Inflows

Ethereum Exchange-Traded Funds (ETFs) in the US have seen a significant surge in net inflows, surpassing those of their Bitcoin counterparts over the past week.

Ethereum ETFs Record Over Double the Net Inflows of Bitcoin Counterparts

According to recent data, the nine spot Ethereum ETFs have recorded $420.06 million in net inflows over the past week, marking the first time they have surpassed the net inflows of their Bitcoin counterparts over a weekly period.

A Breakdown of Ethereum ETF Inflows

Ethereum ETFs started the week with $83.54 million in inflows on Monday, followed by a significant jump to $307.77 million on Tuesday. This surge was triggered by Eric Trump’s post, “It’s a great time to add ETH,” which led to Ethereum’s price skyrocketing over 35% in less than a day.

The investment products recorded a more modest $18.1 million inflow on Wednesday and $10.7 million on Thursday. On Friday, none of the nine ETH ETFs saw any activity, ending the day with zero net inflows.

Analysts Weigh in on the Ethereum ETF Surge

Analysts at Coinbase have linked the recent Ethereum ETF surge to growing interest in ETH for CME-basis trading over Bitcoin. This strategy involves going long on spot ETH while shorting futures to profit from price gaps.

With CME ETH trades yielding 16% returns last week, compared to Bitcoin’s 10%, institutions seem to be favoring ETH for short-term plays.

Key Statistics

The total net inflows into these spot Ethereum funds stood at $3.18 billion as of press time. Ethereum was down 0.6%, exchanging hands at $2,646 per coin.

Bitcoin ETFs See Mixed Results

The 12 spot Bitcoin ETFs, which recently celebrated their first anniversary, had a mixed week. Investors withdrew $234.54 million on Monday and $140.3 million on Thursday.

However, inflows on Tuesday, Wednesday, and Friday helped offset the losses, with Bitcoin ETFs recording $203.54 million in net inflows by the end of the week.