Amid increasing interest in Bitcoin ETFs, Ethereum faces significant outflows, becoming a point of discussion in financial markets.
Surge in Bitcoin ETF Investments
On Tuesday, Bitcoin ETFs recorded substantial inflows of $332.7 million. Leading this surge was Fidelity's FBTC fund with $132.7 million, followed by BlackRock's IBIT fund attracting $72.8 million. Other issuers like Grayscale, Ark & 21Shares, Bitwise, VanEck, and Invesco also reported net inflows.
Outflows from Ethereum ETFs
In contrast, spot Ethereum ETFs experienced net outflows of $135.3 million. Of these withdrawals, $99.2 million were from Fidelity's FETH fund, while Bitwise's ETHW fund registered a negative flow of $24.2 million.
Market Threats and Opportunities
Bitcoin's price continues to rise, trading around $111,200 on Wednesday. Meanwhile, Ethereum held firm at the $4,232 support level. If the support level remains stable, Ethereum may attempt to break the $4,488 resistance, possibly moving towards an all-time high of $4,956.
These shifts in investment flows between Bitcoin and Ethereum reflect the volatility of the cryptocurrency market, where investor interests can change swiftly.
