As a seasoned researcher with over two decades of experience in the financial markets, I have witnessed numerous trends and shifts that have shaped the investment landscape. The recent trend of lower inflows into Bitcoin exchange-traded funds (ETFs) compared to Ethereum ETFs is an intriguing development that demands closer scrutiny.
In the past four trading days, from November 22nd up until the day prior to Thanksgiving, U.S.-based Bitcoin exchange-traded funds have seen considerably less investment compared to their Ethereum-related counterparts.
Based on SoSoValue’s data, Bitcoin ETFs in the 12th position saw a total of $32.2 million flow in during the four trading days from November 22 to November 27. This inflow is significantly lower compared to the $224.8 million that Ethereum ETFs in the first nine positions attracted over the same period.
Over the past week, while Bitcoin experienced a decline of approximately 2.7%, Ethereum showed an increase of about 5.3%.
If the way trading evolves on November 29th goes a certain way, U.S. Ether funds could surpass spot Bitcoin ETFs in terms of weekly net inflows for the very first time.
Despite the recent slowdown in inflows, spot Bitcoin ETFs have still achieved a record-breaking month, with over $6.2 billion in net inflows for November, surpassing the previous record of $6.2 billion set in February, market commentator Nate Geraci noted in an X post.
Significantly, Bitcoin ETFs experienced their largest weekly investment surge from November 18th to 22nd, with a total inflow of approximately $3.38 billion. This influx contributed to Bitcoin reaching close to its record high price of $99,645 towards the end of the previous week.
Currently, there’s a significant increase in investments towards Ether ETFs. This surge might be related to Ethereum’s recent price rise, which could potentially be driven by the court ruling partially in favor of crypto privacy mixer Tornado Cash in the United States.
Furthermore, it’s plausible that investor enthusiasm towards Ethereum could have risen in response to news about Paul Atkins, a former SEC commissioner known for his pro-crypto stance, emerging as the top contender for Gary Gensler’s position as SEC Chair. This potential shift could foster optimism among investors regarding a more accommodating regulatory landscape under a Donald Trump administration for the Decentralized Finance (DeFi) sector.
Currently, Bitcoin (BTC) has increased by 0.6% over the past day and is being transacted at approximately $96,279 each, whereas Ethereum (ETH) has decreased by 0.9% and is currently worth about $3,570 per coin.
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2024-11-29 10:21