Ethereum ETFs Attract $296 Million in Daily Inflow

On Monday, spot Bitcoin exchange-traded funds (ETFs) ended their 12-day net inflow streak, whereas Ethereum ETFs extended their positive run to 12 days. According to data from SoSoValue, spot Bitcoin ETFs experienced outflows totaling $131.35 million. The largest share of this came from Ark & 21Shares' ARKB, which accounted for $77.46 million. Other funds such as Grayscale, Fidelity, Bitwise, and VanEck also reported outflows. Notably, BlackRock's IBIT, the largest Bitcoin ETF by net assets, reported no inflows along with six other ETFs. This marks the first complete daily net outflow from Bitcoin funds since July 1, during which time the ETFs attracted $6.12 billion in inflows over the prior 12 days. Conversely, spot Ethereum ETFs recorded a total net inflow of $296.6 million on Monday, extending their streak to 12 days. Fidelity's FETH led these inflows with $126.93 million, followed closely by BlackRock's ETHA at $102 million. Grayscale’s Mini Ethereum Trust and Bitwise’s ETHW also saw net inflows. Ethereum ETFs have recently experienced their most substantial inflows since their launch on July 24, totaling $3.53 billion over the past 12 days, with daily inflows surpassing those of Bitcoin ETFs on several occasions. Analyst Min Jung from Presto Research pointed out that the flow data signifies a “familiar rotation” from Bitcoin to Ethereum, often seen before altcoin momentum builds. He added, “With Bitcoin showing a notable rally this year, many investors may feel they’ve missed the BTC train and are looking for the next opportunity in Ethereum.” Jung also noted that Bitcoin's dominance has dropped by 5% recently, indicating a possible shift toward riskier assets. Traditionally, altcoin seasons begin when ETH prices rise and BTC dominance declines while Bitcoin stays within a set range. As the current crypto market rally primarily attracts institutional capital, it remains uncertain whether this trend will extend beyond large-cap altcoins to the broader market. Current price data from The Block shows Bitcoin has decreased by 1.27% in the last day, trading at $116,868, while Ether is down 2.17% at $3,679.