In the United States, spot Bitcoin 
$63,211 ETFs surpassed their eighth consecutive day of net inflows on Wednesday, garnering a total of $2.4 billion during this period. BlackRock’s IBIT fund maintained its leadership with an individual inflow of $278.9 million, while Fidelity’s FBTC experienced a $104.4 million increase. Conversely, Grayscale’s GBTC was the only fund to encounter an outflow, amounting to $16.4 million. Meanwhile, the recovery of spot Ethereum 
$1,684 ETFs appeared to stall, attracting a net inflow of just $19.1 million on Wednesday. Experts attribute the robust demand for Bitcoin ETFs and the sluggish momentum in Ethereum to macroeconomic uncertainties and a lack of catalysts.
Strong Growth in Bitcoin ETFs Led by BlackRock
The eight-day net inflow sequence underlines the sustainable appeal of Bitcoin ETFs among institutional investors. Remarkably, BlackRock’s IBIT alone accounted for a staggering $2.3 billion, approximately 96% of the total $2.4 billion inflow during this period. Fidelity’s FBTC also emerged as a noteworthy contributor among the funds.
This consecutive inflow streak indicates that the sector has amassed approximately $11.5 billion since the beginning of the year. Since their market debut in January 2024, U.S. spot Bitcoin ETFs have attracted a net total of $46.9 billion. The funds’ total assets under management have soared to approximately $125 billion, mirroring Bitcoin’s price appreciation. This performance effectively counters earlier critiques of “low demand.”
Ethereum ETFs Experience a Slowdown
Spot Ethereum ETFs in the U.S. continue to linger in Bitcoin’s shadow. After a record net inflow of $1.4 billion over a 19-day period last week, inflows into these ETFs have decelerated significantly. The $19.1 million net inflow observed on Wednesday was primarily absorbed by BlackRock’s ETHA fund, with a substantial $15.1 million contribution. Since their debut at the end of July 2024, Ethereum ETFs have cumulatively drawn a net inflow of $3.9 billion.
Valentin Fournier, Chief Analyst at BRN, shares that institutions remain optimistic about cryptocurrency‘s mid-term potential, yet emphasizes that Ethereum’s “recovery phase” has concluded. Fournier notes, “Despite rising institutional flows, momentum continues to soften due to geopolitical tensions and a lack of catalysts.” This stagnation stands in stark contrast to Bitcoin ETFs, which attracted over $3.8 billion in the same 19-day period.
Even with the Federal Open Market Committee’s (FOMC) decision to keep interest rates unchanged, Federal Reserve Chair Jerome Powell’s hawkish tone in his press briefing and ongoing geopolitical tensions are dampening market sentiment. Bitcoin has declined by 0.3% over the past 24 hours and 2.5% over the past week, trading at $104,810. Ethereum, meanwhile, fell by 8.3% during the same timeframe to $2,527. Fournier points out that while Bitcoin is striving to hold above $100,000, it faces difficulties surmounting resistance and may test the $102,000 support if momentum doesn’t build. Given macroeconomic uncertainties and a lack of short-term catalysts, he advises a cautious approach.
David Hernandez, Cryptocurrency Investment Specialist at 21Shares, offers a more optimistic viewpoint. Hernandez believes Bitcoin’s scarcity, decentralization, and neutrality make it increasingly relevant and attractive for investors navigating an uncertain future, as faith in a “soft landing” diminishes and global financial flows diverge. He further claims, “Bitcoin has firmly positioned itself above $100,000, and its resilience in the face of geopolitical shocks demonstrates its widespread adoption and evolving investment narrative.”
