U.S. Bitcoin ETFs Show Strong Demand, Ethereum ETFs Experience Outflows

Recent data from Lookonchain highlights a significant shift in U.S. cryptocurrency ETF investment trends. Ten Bitcoin-focused ETFs saw inflows of $3,215 worth of Bitcoin on May 2nd, with BlackRock leading the pack with an influx of 3,636 BTC, boosting their total holdings to 607,685 BTC and a value exceeding $58.86 billion. In contrast, nine Ethereum ETFs experienced outflows totaling 358 ETH. Notably, Grayscale ETHE faced the biggest outflow at 4,070 ETH, impacting its current holdings of 1,140,412 ETH worth approximately $2.09 billion.