Ethereum Spot ETFs Surpass Bitcoin in Net Inflows for First Time
Ethereum spot ETFs have surpassed their Bitcoin counterparts in terms of net inflows for the first time, according to data from mid-September. Over that period, Ethereum products attracted around $324 million in capital, edging past Bitcoin's roughly $307 million.
However, when looking at the full month, Bitcoin still held a slight lead with approximately $467 million in net inflows, compared to Ethereum's $445 million. This shift in fortunes can be attributed to a single-day inflow of $731 million on September 3 for Bitcoin ETFs, followed by significant outflows over the next few days.
On the other hand, Ethereum ETFs maintained steady growth throughout the month, with notable inflows on September 11 and 14. BlackRock's ETHA product posted standout days, including $80.5 million in inflows on September 14 and $148.8 million on September 11.
The success of Ethereum spot ETFs can be attributed to their increasing popularity among institutional investors, as well as the introduction of staking features that provide a yield not available in Bitcoin products.