Bitcoin exchange-traded funds (ETFs) faced a substantial net outflow of $140.30 million on February 6, primarily driven by withdrawals from major funds like Fidelity’s FBTC and Grayscale’s GBTC.
- Fidelity’s FBTC recorded the most significant outflow of $103.25 million, bringing its total net assets down to $20.35 billion.
- Grayscale’s GBTC also saw a notable outflow of $42.21 million, reducing its net assets to $19.46 billion.
- The only positive movement came from Grayscale’s BTC fund, which attracted a modest $5.15 million in inflows, pushing its net assets to $4.06 billion.
Ether ETFs Record Six Consecutive Days of Inflows
While Bitcoin ETFs struggled, Ether ETFs continued their positive trend for the sixth straight day, reflecting increased investor interest in Ethereum exposure.
- On Feb. 6, Ether ETFs recorded a net inflow of $10.65 million.
- BlackRock’s ETHA was the sole contributor, adding the entire $10.65 million, increasing its total net assets to $3.67 billion.
Institutional and Retail Investors Shift to Ether
The six-day inflow streak in Ether ETFs suggests that both institutional and retail investors are increasingly looking towards Ethereum-based investment products. This trend could indicate a shift in sentiment, possibly influenced by factors like Ethereum’s upcoming network upgrades and its expanding utility in decentralized finance (DeFi) and smart contracts.
Bitcoin vs. Ethereum: A Growing Divide?
Despite Bitcoin ETFs recording a cumulative net inflow of $40.53 billion with total net assets of $113.51 billion, the recent outflows highlight investor caution. Meanwhile, Ether spot ETFs have accumulated $3.18 billion in total net inflows with $10.29 billion in net assets, showcasing consistent demand.
If this trend continues, Ethereum ETFs could emerge as a strong alternative to Bitcoin ETFs, especially if Ethereum’s ecosystem sees further institutional adoption.
