U.S. spot Ethereum (ETH) exchange-traded funds (ETFs) are on fire! On Wednesday, they raked in a massive $307 million in net inflows, leaving their Bitcoin counterparts eating dust.
Leading the charge is BlackRock’s ETHA, which brought in $262.6 million, followed by Fidelity’s FETH with $20.5 million. Grayscale’s Mini Ethereum Trust and ETHE, along with VanEck’s ETHV, also contributed to the crypto flood.
In comparison, spot Bitcoin ETFs had a modest $81.3 million in inflows, marking their third consecutive day of positive movement. But let’s be real: that’s still trailing far behind the Ethereum ETFs.
K33 analysts are feeling the vibe, predicting that Bitcoin could face some weakness in the near term. Why? Heavy rotations into Ethereum are putting the spotlight on ETH while leaving Bitcoin a bit exposed to more declines.
As of Thursday morning, Bitcoin (BTC) climbed 2% to $113,300, while Ethereum remained mostly flat, ticking up just 0.08% to $4,581, according to the Hodlfm's price page.
The ETH/BTC ratio broke above 0.04 for the first time this year, showing that Ethereum’s got some serious relative strength going on. Looks like the ETH party is just getting started!
Alex Shepel
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
