A First Since October for Bitcoin ETFs: Ethereum Inflows Outpace Bitcoin by 3x
While weekly trading volume for U.S. spot Bitcoin ETFs (BTC) fell to its lowest level since October 2024 at $8.05 billion, Ethereum ETF (ETH) products managed to outperform Bitcoin in inflows for the second consecutive week.
As the focus of institutional investors in cryptocurrency markets begins to shift, U.S.-based spot Bitcoin funds are experiencing a significant loss in volume. Only $33.8 million in net inflows were recorded for Bitcoin funds across last week’s five trading days. Funds, which saw approximately $499.1 million in inflows until mid-week, wiped out nearly all these gains with a total of $465.3 million in outflows on Thursday and Friday. Notably, BlackRock’s IBIT fund stood out by recording a total net outflow of $95.5 million following heavy selling in the final two days of the week.
Institutional Interest in Ethereum ETFs is Rising
According to a The Block analysis based on SoSoValue data, spot Ethereum funds attracted over three times more capital than Bitcoin funds last week, bringing in $103.9 million in net inflows. This momentum on the Ethereum side was led by BlackRock’s ETHA fund with $96.3 million in inflows. Although the total asset size of Ethereum funds is roughly one-eighth that of Bitcoin funds, the fact that they have gathered almost as much investment as Bitcoin ($293.8 million) in the last three weeks clearly demonstrates that institutional interest is shifting toward this space.
Despite this activity in the market, both fund groups continue to show a negative trend year-to-date. Data shows that since the beginning of 2026, Bitcoin funds have seen a total of $5.23 billion in net outflows, while Ethereum funds have seen $1.15 billion in net outflows. While the Bitcoin price follows a horizontal course at levels around $64,110, Ethereum is trading near $1,864. The fact that investors are maintaining inflows into Ethereum despite the drop in trading volume suggests that risk appetite in the market continues selectively.