Bitcoin ETFs Soar as Ethereum Funds Bleed $48M
Crypto fund flows took an unusual turn on September 2 as Bitcoin and Ethereum ETFs diverged. While Bitcoin products pulled in a net $31 million, Ethereum funds hemorrhaged approximately $48 million in a single session.
This divergence snapped a 12-session inflow streak for Ethereum products. Over the week ending September 4, Bitcoin ETFs amassed close to $987 million in net inflows, with cumulative inflows into US spot Bitcoin ETFs exceeding $55 billion since their January 2024 debut.
BlackRock, Fidelity, and Grayscale continue to dominate the issuer landscape. BlackRock's IBIT fund leads in daily volume and investor flows, while its ETHA and ETHB products for Ethereum also perform well. Grayscale's converted trust products carry higher fee structures than newer competitors, which has historically led to persistent outflows as investors rotate into cheaper alternatives.