Ethereum ETF Flows Surge While Bitcoin ETFs Experience Outflows

Bitcoin exchange-traded funds (ETFs) witnessed significant outflows amounting to $745 million on May 30th, driven primarily by BlackRock’s IBIT product. Conversely, Ethereum ETF inflows accelerated across major issuers, with notable contributions from BlackRock and Fidelity. Notably, Ethereum ETFs saw a daily influx of over $277 million, driven by robust institutional investment. This surge in Ethereum ETF activity marks a shift towards greater capital allocation to the cryptocurrency.