Bitcoin ETFs Snap Back to Life After Two-Day Losing Streak
US spot Bitcoin ETFs saw a significant rebound on Wednesday after two consecutive days of outflows. The category took in $159.5 million in net inflows, with BlackRock's IBIT leading the charge at $184 million.
This influx of capital is notable, as it indicates that institutional investors are favoring Bitcoin exposure over Ethereum's. In fact, Ether ETFs experienced a net outflow of $39.3 million on the same day, with BlackRock's ETHA fund seeing redemptions.
The divergence between Bitcoin and Ethereum ETFs has been a recurring theme in September, with Bitcoin ETFs experiencing alternating inflows and outflows while Ethereum ETFs have consistently seen negative flows. Analysts attribute this disparity to the lack of an ether-specific news event driving demand for the asset.