Spot Ethereum exchange-traded funds (ETFs) have logged two straight weeks of outflows amid cooling investor sentiment after months of strong inflows.
Ether (ETH) products collectively saw $3243.9 million in net redemptions for the week ending Friday, following last week’s $311 million outflow, according to data from Susualo.
The latest data brings the total inflows to all Ether spot ETFs to $14.35 billion, with total net assets standing at $26.39 billion, representing about 5.55% of Ethereum’s market cap.
As of Friday, the funds are also $93.6 million in expenses. Led by Blackrock’s Etha ETF. Withdrawals were led by outflows of $100.99 million, while Gracescale’s Eth and Bitwise’s Etho posted modest inflows.
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See Spot Bitcoin ETFs Renewed Strength
Meanwhile, spot bitcoin (BTC) ETFs saw renewed strength this week, recording $446 million in net inflows after institutional investors returned to the market.
On Friday, the product added another $90.6 million, bringing total 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 are dominant, with IBT having $89.17 billion in assets and FBTC having $22.84 billion.
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When demand for Ether cools, Bitcoin ETFs increase
Vincent Liu, chief investment officer at Kronos Research, told Quintilegraph that current ETF flows suggest a “stronger” rotation in bitcoin as investors double down on “digital gold” and store-of-value narratives.
According to Liu, the renewed confidence in bitcoin reflects broader market sentiment in favor of assets seen as resilient amid global uncertainty and expectations of future interest rate cuts.
Meanwhile, Ethereum’s ongoing ETF spending indicates cooling demand and softening activity, with institutional investors waiting for new catalysts before re-entering.
Looking ahead to next week, Leo expects BTC inflows to remain strong as traders position themselves for potential macro tailwinds from monetary easing. “Ethereum and other alts can only recover if network activity dies down or a new catalyst emerges,” he added.
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