Ether ETFs Outperform Bitcoin Funds for Second Consecutive Week

BlackRock's Ethereum Trust (ETHA) and iShares Bitcoin Trust (IBIT) have seen vastly different fortunes in terms of investor inflows. In the week ending July 24, spot ether ETFs absorbed a total of $103.8 million, more than three times the $33.9 million that flowed into spot bitcoin funds.

This marks the second consecutive week that ether products have outperformed their bitcoin counterparts, with ETHA taking in $96.3 million and IBIT experiencing a net outflow of $95.5 million. The rotation began earlier this month when both categories ended an eight-week streak of outflows.

The disparity can be attributed to BlackRock's performance, as its iShares Ethereum Trust (ETHA) continues to attract investors while the iShares Bitcoin Trust (IBIT) sees significant outflows. Fidelity's ether fund FETH experienced a $6.2 million weekly outflow, with ETHA accounting for more than 95% of the category's net gain.

The flows favoring ether come amid relatively stable prices, with ETH trading at $1,936 and bitcoin sitting at $64,780. Whether this trend continues remains to be seen, as the next few weekly prints will determine if ETF allocators continue to favor ether over bitcoin.