Bitcoin ETFs Hemorrhage Funds as Ethereum Attracts Fresh Capital
In recent weeks, spot Bitcoin ETFs have seen significant net outflows of $462.7 million, breaking a three-week positive streak. In contrast, Ethereum ETFs attracted $196.9 million in net inflows during the same timeframe, with BlackRock driving $148.8 million on Friday alone.
The ETH/BTC ratio has climbed more than 25% in Q3, marking its strongest quarterly performance since Q3 2025. This surge is reflected in Ethereum's third-quarter return on investment, which is nearing 60%, approaching its historical Q3 peak of over 66%.
Despite this divergence in ETF flows, technical indicators for both cryptocurrencies show mixed signals, with critical moving averages serving as pivotal zones. Market observers caution that a single week of divergent ETF activity might simply represent routine portfolio rebalancing or strategic profit-taking rather than a fundamental shift in institutional allocation.