- Data from SoSoValue showed Bitcoin ETFs saw net inflows of $332.7 million.
- In contrast, spot Ethereum ETFs posted $135.3 million in daily net outflows.
- Alongside ETF flows, Bitcoin’s spot price continued its rebound this week.
Spot Bitcoin exchange-traded funds (ETFs) recorded significant inflows on Tuesday, surpassing their Ethereum counterparts in terms of investor interest.
Data from SoSoValue showed Bitcoin ETFs saw net inflows of $332.7 million. Fidelity’s FBTC led with $132.7 million, followed by BlackRock’s IBIT, which attracted $72.8 million.
Other issuers, including Grayscale, Ark & 21Shares, Bitwise, VanEck, and Invesco, also reported net inflows during the day, according to the same data.
Ethereum ETFs report $135.3 million in outflows
In contrast, spot Ethereum ETFs posted $135.3 million in daily net outflows.
Fidelity’s FETH accounted for $99.2 million of the withdrawals, while Bitwise’s ETHW registered $24.2 million in negative flows.
The reversal comes after Ethereum products outperformed Bitcoin ETFs through August.
Analysts attributed the earlier strength to what they described as a rotational shift toward Ethereum, pointing to its yield-generating features, improved regulatory outlook, and adoption by corporate treasuries.
For August overall, Bitcoin ETFs recorded net outflows of $751 million, while Ethereum ETFs saw $3.87 billion in inflows, according to SoSoValue.
Bitcoin price extends recovery
Alongside ETF flows, Bitcoin’s spot price continued its rebound this week.
At the time of writing on Wednesday, Bitcoin traded at around $111,200, after closing Tuesday above the 100-day Exponential Moving Average at $110,720.
The move follows a nearly 5% correction the previous week, but the recovery suggests momentum may be stabilising.
Technical indicators showed the Relative Strength Index (RSI) at 45, approaching the neutral 50 level, while the Moving Average Convergence Divergence (MACD) lines moved closer together with a fading red histogram. Both signals indicate waning bearish momentum.
If the recovery holds, analysts suggest bitcoin could test daily resistance at $116,000. However, a correction could see prices move back toward support around $105,573.
Ethereum finds support at $4,232
Ethereum also staged a recovery after retesting support at $4,232. The token bounced slightly on Sunday before facing resistance at $4,488 on Monday.
It again held support at $4,232 the following day and was trading near $4,328 on Wednesday.
If the $4,232 support level continues to hold, Ethereum could attempt to break resistance at $4,488.
A successful close above that level could set the stage for a move toward its record high of $4,956.
Ripple also followed the broader trend, edging higher in line with bitcoin and Ethereum’s rebound.
Source: https://coinjournal.net/news/spot-bitcoin-etfs-strong-inflows-as-ethereum-funds-see-outflows/
