On February 6, Bitcoin exchange-traded funds (ETFs) experienced a significant net outflow of $140.30 million, marking a stark contrast to Ether ETFs, which secured inflows for the sixth consecutive day. The largest outflow came from Fidelity’s FBTC, which saw a withdrawal of $103.25 million, reducing its total net assets to $20.35 billion.
Grayscale’s GBTC also recorded a $42.21 million outflow, lowering its total net assets to $19.46 billion. The only Bitcoin ETF that registered an inflow was Grayscale’s BTC fund, adding $5.15 million and bringing its net assets to $4.06 billion.
Ether ETFs Continue Positive Streak
While Bitcoin ETFs faced withdrawals, Ether ETFs continued to gain investor confidence. BlackRock’s ETHA led the charge, bringing in an inflow of $10.65 million, which raised its total net assets to $3.67 billion. This marks six consecutive days of net inflows, showcasing increasing interest from both institutional and retail investors.
As of February 6, the cumulative total net inflow for Ether spot ETFs stands at $3.18 billion, with total net assets amounting to $10.29 billion.
Institutional Shift Towards Ether
The consistent inflows into Ether ETFs highlight a potential shift in market sentiment. Investors are showing a growing appetite for Ether exposure, possibly due to its expanding use cases, including DeFi, staking, and institutional adoption.
On the other hand, Bitcoin ETFs, despite their recent outflows, still hold a dominant position with a total net inflow of $40.53 billion and net assets reaching $113.51 billion. However, sustained outflows from major players like Fidelity and Grayscale indicate that some investors might be reallocating their portfolios.
Market Outlook
The contrasting trends between Bitcoin and Ether ETFs suggest evolving market dynamics. While Bitcoin remains the leading digital asset, Ether’s consistent inflows point to increasing demand. Whether this trend continues or Bitcoin ETFs regain momentum remains to be seen, but for now, Ether appears to be gaining the upper hand in institutional interest.
