Ethereum Spot ETFs Outpace Bitcoin Counterparts for Second Week

Ethereum spot ETFs have continued to attract more institutional money than their bitcoin counterparts. Last week, Ethereum spot exchange-traded funds (ETFs) saw net inflows of $103.8 million, about three times the inflows into bitcoin spot ETFs. This marks the second straight week that ethereum has led in this regard.

The weekly gap was largely driven by BlackRock's iShares Ethereum Trust (ETHA), which pulled in $96.3 million over the week. In contrast, iShares Bitcoin Trust (IBIT), the largest cryptocurrency spot ETF, recorded net outflows of $95.5 million. IBIT saw significant outflows on two consecutive days late in the week, totaling $202.5 million and $212.2 million.

The trend of institutional money shifting towards ethereum continues to gain momentum. Since the start of this month, bitcoin spot ETFs had been experiencing an eight-week run of outflows before reversing course. Now, it appears that new institutional money is choosing ethereum over bitcoin, with weekly inflows into ethereum spot ETFs staying at nearly the same level as the previous week.