The ETFs in the United States have recently displayed a noteworthy activity with a huge divergence between Ethereum and Bitcoin funds. As per the data provided by Spot On Chain (a well-known on-chain analytics firm), Bitcoin ETFs witnessed $203M in net inflows while Ethereum ETFs incurred $13M in outflows on August 26. The analytics provider revealed the current standing of the individual exchange-traded funds on its official social media account.
Bitcoin ETFs Maintain Dominance over Ethereum ETFs with $203M in Net Inflows
Spot On Chain mentioned in an X post that the current divergence between Ethereum and Bitcoin ETFs reflects the contradictory investor sentiment. BTC ETFs saw a significant amount of $203M in net inflows. This marks the 8th consecutive day in terms of positive flows for Bitcoin. Throughout the previous week, Bitcoin ETFs maintained a positive outlook. Particularly, on Tuesday and Friday, the Bitcoin ETFs recorded staggering inflows of $88M and $252M respectively.
This respective consistent inflow signifies the increasing confidence among investors in Bitcoin. On the 26th of August, BlackRock (IBIT) led the Bitcoin ETF market with a substantial inflow of $224M. This represents the top single-day inflow witnessed over the recent twenty-five trading days. Additionally, Franklin (EZBC) and WisdomTree (BTCW) saw $5.5M and $5.1M in inflows.
ETH ETFs See Sheer Negative Flows of $13.2M
On the other hand, the Ethereum ETF market has shown massively negative flows on August 26. Out of 9 ETH ETFs, 6 witnessed no flows at all. However, the other 3 ETH exchange-traded funds experienced $13.2 in outflows. The current outlook of the Ethereum ETFs is also a continuation of the gradual decline seen in the previous week. The week began with $13.5M leaving ETH ETFs.
As a result of the continuation of this trend, these ETFs incurred losses of almost $5.7M on Friday. On August 26, Grayscale (ETHE) maintained its position as the top ETH ETF in terms of negative flows. The cumulative outflows of Grayscale (ETHE) reportedly reached $9.5M on August 26. Franklin (EZET) incurred a net outflow of $1 million. Apart from that, Fidelity (FETH) recorded $2.7 in outflows.
