The U.S. cryptocurrency ETH market is witnessing a trend shift. According to recent SoSoValue data, the U.S. spot Ethereum ETF has achieved net capital inflows for 15 consecutive trading days; in contrast, the Bitcoin spot ETF has experienced over $1 billion in net capital outflows during the same period.
Ethereum ETF Attracts Strong Funds, Compared with Bitcoin ETF Phenomenon
SoSoValue data indicates that the U.S. spot Ethereum ETF has attracted $820 million in capital inflows over the past 15 trading days. Since its launch in early July 2024, its cumulative net inflows have risen to a historical high of $3.33 billion.
Meanwhile, the spot Bitcoin ETF shows an opposite trend. Its cumulative net inflows have decreased by over $1 billion from the peak of $45.34 billion in late May, dropping to $44.24 billion by the close of last Friday.
Institutional Interest and Market Dynamics Analysis
Market analysis suggests that the capital inflow into Ethereum ETF can be partially attributed to Ethereum's (ETH) approximately 40% price increase over the past month, as well as synchronized growth in institutional and retail investor demand.
Additionally, Ethereum's recent Pectra upgrade is considered a factor in boosting institutional investors' interest in its ecosystem. However, JPMorgan analysts recently commented that the upgrade has not significantly increased user activity.
Looking at individual fund performances:
- BlackRock's ETHA fund AUM exceeds $4.8 billion, leading the pack and serving as a primary driver of recent Ethereum ETF growth
- Grayscale's two spot Ethereum ETFs, ETHE (AUM of $2.82 billion) and ETH (AUM of $1.27 billion), have a combined AUM of $4.09 billion
- Fidelity's Ethereum fund AUM is $1.09 billion
Compared to the continuous inflows of Ethereum ETF, Bitcoin ETF has recently faced capital outflows, highlighting subtle changes in investor preferences for digital asset classes—a phenomenon worth monitoring.
