Lucía Peña
US spot Ethereum ETFs are on track to attract nearly $4 billion in net inflows this month, setting up what could become their second-best month since launch. According to data from PRIME, Ethereum-based funds have significantly outperformed their Bitcoin counterparts throughout August.
This trend kicked off on July 17, when a strong rally in ETH flipped its year-to-date performance from a loss against Bitcoin to a 13.8% gain by Friday. Since then, Bitcoin ETFs have only outperformed Ethereum ETFs on seven separate days, while Ethereum funds have amassed $7.1 billion in net inflows, compared to Bitcoin’s $505 million in the same period.
In July, Bitcoin ETFs briefly held the upper hand, securing $6 billion in net inflows, while Ethereum ETFs reached a record $5.4 billion. However, the tables have turned in August. As of Thursday’s update, Bitcoin ETFs recorded $622.5 million in net outflows, while Ethereum ETFs logged $4 billion in inflows, marking their largest monthly lead over Bitcoin products since trading began in July 2024.
Across the past two months, Ethereum ETFs accumulated $9.5 billion in inflows, nearly doubling Bitcoin ETFs’ $5.4 billion. Still, Bitcoin funds remain dominant over their lifetime, with $54.6 billion total inflows compared to Ethereum’s $13.7 billion. It’s worth noting that Bitcoin ETFs had a six-month early start, which still gives them a sizeable lead.
Learn: How to Buy Cryptocurrency?
Daily Inflow Streak Broken
Ethereum ETFs had enjoyed a seven-day streak of daily inflow dominance, but Bitcoin funds reclaimed the lead on Thursday, with $178.9 million versus Ethereum’s $39.1 million.
Ark Invest’s ARKB ETF surprisingly led Bitcoin inflows on Aug. 28, attracting $79.8 million, while BlackRock’s IBIT followed with $63.7 million. On the Ethereum side, BlackRock’s ETHA topped the charts with $67.6 million, marking the strongest single-day inflow for ETH products.
Trading Volume Battle: Ethereum Closing In
Although Bitcoin ETFs still command larger daily trading volumes, Ethereum funds are catching up. On Thursday, Bitcoin ETFs generated $2.5 billion in trading activity, while Ethereum ETFs posted a strong $2 billion, narrowing the gap significantly.
Market Outlook for ETH and BTC
According to Timothy Misir, Head of Research at BRN, ETF demand continues to absorb more than twice Bitcoin’s daily issuance, yet BTC prices remain locked near $111,000, reflecting cautious investor sentiment. Despite heavy inflows, ETH slipping below the $4,500 support level suggests short-term weakness, though the overall trend remains in Ethereum’s favor.
