On Tuesday, spot Bitcoin 
$78,680 exchange-traded funds (ETFs) recorded significant inflows, outpacing their Ethereum 
$2,316 counterparts in terms of investor interest. According to data from SoSoValue, Bitcoin ETFs saw net inflows of $332.7 million. Leading this surge was Fidelity’s FBTC fund with $132.7 million, followed by BlackRock’s IBIT fund, which attracted $72.8 million. Other issuers such as Grayscale, Ark & 21Shares, Bitwise, VanEck, and Invesco also reported net inflows during the day.
Ethereum ETFs Report Substantial Outflows
In contrast, spot Ethereum ETFs experienced a daily net outflow of $135.3 million. Of these withdrawals, $99.2 million were from Fidelity’s FETH fund, while Bitwise’s ETHW fund registered a negative flow of $24.2 million.
This reversal followed a period where Ethereum products had outpaced Bitcoin ETFs in performance throughout August. Analysts had attributed this previous strength to Ethereum’s yield-generating capabilities, a burgeoning regulatory outlook, and its adoption by institutional treasuries, indicating a shift towards Ethereum.
According to SoSoValue, Bitcoin ETFs had logged net outflows of $751 million for the entire month of August, while Ethereum ETFs had recorded inflows of $3.87 billion.
Bitcoin’s Price Continues to Climb
Aside from ETF flows, Bitcoin’s spot price continued its recovery this week. As of Wednesday’s writing, Bitcoin was trading around $111,200, having closed Tuesday above the 100-day Exponential Moving Average at $110,720.
This move, which followed a roughly 5% correction the previous week, indicated a stabilization of momentum. Technical indicators showed the Relative Strength Index (RSI) at 45, nearing the neutral 50 level, while Moving Average Convergence Divergence (MACD) lines closed in amid a fading red histogram. Both signals suggest waning bearish momentum.
If recovery continues, analysts propose Bitcoin could test the $116,000 daily resistance level. However, in the event of a correction, prices might retreat to the support level around $105,573.
Ethereum Holds Firm at $4,232 Support
Ethereum also experienced a rebound after re-testing the $4,232 support level. Following a mild jump on Sunday, the cryptocurrency encountered resistance at $4,488 on Monday. It held again at the $4,232 support and was trading around $4,328 on Wednesday.
If the $4,232 support level remains stable, Ethereum might attempt to break the $4,488 resistance. A successful close above this level could set the stage for a move towards the all-time high of $4,956.
Ripple 
$1 also followed the broader trend, showing a slight increase paralleling Bitcoin and Ethereum’s recovery.
