In the United States, spot Bitcoin exchange-traded funds have had much lower inflows than their Ethereum counterparts in the last four trading days. That’s from November 22 to the day before Thanksgiving.
Data from SoSoValue shows that the 12 spot Bitcoin ETFs had $32.2 million in inflows between November 22 and November 27. But the nine spot Ethereum ETFs had $224.8 million in inflows during the same time. That’s a big difference.
It’s an interesting situation because Bitcoin’s price dropped by 2.7% in the last 7 days. Meanwhile, Ether’s price went up by 5.3% in that same period.
Depending on how trading goes on November 29, U.S. Ether funds might have more weekly net inflows than spot Bitcoin ETFs for the first time.
Even though spot Bitcoin ETFs have seen a slowdown in inflows recently, they still had a record-breaking month. Market commentator Nate Geraci said in an X post that they had over $6.2 billion in net inflows for November. That’s more than the previous record of $6.2 billion set in February.
The BTC ETFs had their highest inflow week between November 18 and 22. They got $3.38 billion in inflows then, which helped push Bitcoin towards its all-time high of $99,645 near the end of last week.
The recent increase in inflows into Ether ETFs is probably because of Ethereum’s price rally. That rally might have been affected by crypto privacy mixer Tornado Cash’s partial win in U.S. courts.
Also, investor interest in Ethereum might have gone up after reports that former SEC commissioner and crypto advocate Paul Atkins is now the leading candidate to replace Gary Gensler as SEC Chair. This has made people expect a better regulatory environment for the DeFi space under a Donald Trump-led U.S. administration.
At the time this was written, Bitcoin was up 0.6% in the last 24 hours. It was being traded at $96,279. Ethereum (ETH), on the other hand, was down 0.9% and was trading at $3,570 per coin.
