Bitcoin ETFs Turn Red While Ethereum Funds Continue Winning Streak
The trend of Bitcoin ETFs turned red last week after a strong run in August, losing over $460 million in four business days. In contrast, Ethereum funds continued to attract fresh money, extending their winning streak into a fourth straight week.
Data from SoSoValue shows the split in investor sentiment between Bitcoin and Ethereum. While Bitcoin ETFs lost momentum last week, Ethereum's price pushed toward an eight-month high.
Last week was particularly rough for Bitcoin funds, which experienced outflows of $46.65 million on Tuesday, followed by $120.24 million on Wednesday, $282.56 million on Thursday, and $13.29 million on Friday.
Ethereum ETFs, however, saw a turnaround on Friday after initial outflows earlier in the week. The funds experienced net inflows of $216.41 million, marking a two-week high.