Bitcoin ETFs Surge with Overflows, Ethereum Sees Outflows

Recent data shows a surge in investment interest for Bitcoin exchange-traded funds (ETFs), surpassing Ethereum in popularity. A significant $332.7 million net inflow was recorded for Bitcoin ETFs on Tuesday, according to SoSoValue. Fidelity’s FBTC fund led this influx with $132.7 million followed closely by BlackRock’s IBIT fund at $72.8 million. Other notable players like Grayscale, Ark, and 21Shares also saw positive inflows. In contrast, Ethereum ETFs experienced outflows of $135.3 million, with Fidelity’s FETH fund seeing a withdrawal of $99.2 million, and Bitwise’s ETHW fund experiencing a negative flow of $24.2 million. 8 This shift follows Ethereum ETFs outperforming Bitcoin throughout August, fueled by factors like yield-generating capacity, favorable regulation, and institutional adoption. Will this trend continue for Bitcoin ETFs?