Ether ETFs Surge as Bitcoin Funds Extend Losing Streak
Institutional investors are favoring ether over bitcoin, as seen in recent data from SoSoValue. On Thursday, September 11, spot exchange-traded funds (ETFs) tracking ether pulled in $216.41 million, while their bitcoin counterparts posted a fourth straight session of outflows, losing $13.29 million.
Over the week, investors withdrew $462.73 million from bitcoin products, following a strong net inflow during the previous week. This reversal has pushed bitcoin funds deeper into an annual deficit approaching $1 billion.
The divergence in fund flows coincided with a sharp rally in the underlying asset, with ETH breaking above $2,600 and settling near $2,510. The move triggered approximately $216 million in forced liquidations of short positions over a 24-hour window, according to Coinglass data.