Bitcoin ETFs Attract $459M as Ethereum Sees Outflows

Source: Coinomedia Original Title: Bitcoin ETFs Attract $459M as Ethereum Sees Outflows Original Link: https://coinomedia.com/bitcoin-etf-inflows-2024-2/

Overview

From December 29 to January 2, spot Bitcoin ETFs in the U.S. drew significant investor interest, recording a total of $459 million in net inflows. This marks a strong start to the new year for Bitcoin-focused investment vehicles, as institutional and retail investors continue to favor BTC amid positive market sentiment.

Leading the charge was BlackRock’s IBIT, which alone attracted $324 million, making it the top performer among all spot Bitcoin ETFs during the period. The robust inflows indicate growing confidence in Bitcoin as an investment asset, especially with expectations surrounding potential regulatory clarity and a looming Bitcoin halving in 2024.

Ethereum ETFs Face Outflows Despite Market Buzz

In contrast to Bitcoin, spot Ethereum ETFs saw net outflows totaling $161 million. This divergence may suggest that investors are shifting their capital toward Bitcoin, possibly due to its established market dominance and reduced regulatory uncertainty.

While Ethereum remains a key player in the blockchain ecosystem, the short-term sentiment appears cautious, with investors possibly awaiting more clarity on Ethereum’s roadmap and the SEC’s stance on ETH-related products.

Mixed Results for SOL and XRP ETFs

Other altcoins had more mixed results. Solana (SOL) spot ETFs posted a modest inflow of $10.43 million, while XRP spot ETFs gained $43.16 million. These figures, though smaller than Bitcoin’s, highlight growing interest in diversified crypto ETF offerings beyond the top two cryptocurrencies.

As crypto ETFs become more mainstream, the capital flows into and out of these products will be an important signal of investor sentiment across different assets.