Spot Ethereum exchange-traded funds (ETFs) posted two straight weeks of outflows as investor sentiment cooled after months of strong inflows.
According to data from SoSoValue, Ether (ETH) products recorded a complete of $243.9 million in net withdrawals for the week ended Friday, following an outflow of $311 million the previous week.
According to the most recent data, cumulative inflows across all Ether spot ETFs are $14.35 billion, with total net assets at $26.39 billion, or about 5.55% of Ethereum's market cap.
Funds also recorded $93.6 million in outflows on Friday. BlackRock's ETHA ETF led the best way with $100.99 million in outflows, while Grayscale's ETHE and Bitwise's ETHW saw minor inflows.
Ether funds record outflows within the second week. Source: SoSoValue
Spot Bitcoin ETFs are experiencing renewed strength
Meanwhile, spot Bitcoin (BTC) ETFs experienced renewed strength this week, recording $446 million in net inflows as institutional investors returned to the market, in accordance with SoSoValue data.
On Friday, the products added one other $90.6 million, bringing cumulative inflows to $61.98 billion and total net assets to $149.96 billion, representing 6.78% of Bitcoin's market cap.
BlackRock's iShares Bitcoin Trust (IBIT) led the inflows with $32.68 million, followed by Fidelity's FBTC, which added $57.92 million. Both funds remain dominant, with IBIT holding $89.17 billion in assets and FBTC holding $22.84 billion.
Bitcoin ETF inflows surge as Ether demand cools
Vincent Liu, chief investment officer at Kronos Research, told Cointelegraph that current ETF flows indicate a “strong” rotation into Bitcoin as investors double down on the “digital gold” and store of value narrative.
According to Liu, the renewed confidence in Bitcoin reflects overall market sentiment, which favors assets seen as resilient amid global uncertainty and expectations of impending rate of interest cuts.
Meanwhile, Ethereum's continued ETF outflows underscore slowing demand and weaker on-chain activity as institutional investors await recent catalysts before jumping back in.
Looking ahead to next week, Liu expects BTC inflows to stay strong as traders brace for possible macroeconomic tailwinds from monetary policy easing. “Ethereum and other alternatives could only bounce back if network activity increases or recent catalysts emerge,” he added.
