- Ethereum ETFs saw $84.6 million in inflows, yet they still significantly lag behind Bitcoin ETF inflows.
- Despite some recent price dips, Ethereum remains above its 50-day moving average, suggesting short-term bullish momentum.
According to recent data, Ethereum ETFs [ETH] have recorded their largest inflow in over a month. Despite this substantial inflow, these figures still trail the impressive inflows seen by Bitcoin ETFs [BTC], indicating a continued stronger preference for Bitcoin.
The First Weekly Inflow for Ethereum ETFs Since August
Data from SosoValue highlights that Ethereum ETFs have seen over $84.6 million in inflows last week, with positive net investments on three out of five trading days.
This represents the best weekly inflow since August 9th. Despite this growth, Ethereum ETF performance still lags significantly behind Bitcoin ETFs.
Source: SosoValue
Conversely, Bitcoin ETFs recorded an incredible $1.11 billion in inflows over the same period, with daily positive inflows. This marks Bitcoin’s largest weekly inflow since July 19th.
Analyzing the Lag in Ethereum ETFs Compared to Bitcoin
Ethereum ETFs began trading in the U.S. on July 23rd, around six months after Bitcoin ETFs. During the initial five weeks of trading, Ethereum ETFs saw net outflows of approximately $500 million. In contrast, Bitcoin ETFs experienced net inflows of over $5 billion in the same timeframe.
Bitcoin’s first-mover advantage, coupled with the market excitement surrounding its ETF launch, has driven significant inflows. Ethereum, despite a promising entry, has struggled to capture the same level of investor interest.
Additionally, the market value disparities between Bitcoin and Ethereum contribute. Bitcoin dominates over 50% of the crypto market cap, whereas Ethereum holds about 14%.
Ethereum’s Price Trends Entering October
In recent days, Ethereum’s price has seen some declines, dropping below the $2,600 mark. At the time of writing, Ethereum is trading around $2,597, down over 2%. However, it’s worth noting that ETH remains above its 50-day moving average, signaling a short-term bullish trend.
Source: TradingView
The Relative Strength Index (RSI) hovers around 53, which further supports the optimistic outlook suggested by the moving average.
Explore Ethereum’s market cap in Bitcoin’s terms
While the Ethereum ETF has shown a notable inflow after a lackluster period, it still significantly lags behind Bitcoin ETFs in terms of volume and investor interest. Key factors such as Bitcoin’s first-mover advantage and its dominant market position contribute heavily to this trend. Despite recent price fluctuations, Ethereum holds a bullish stance based on current technical indicators.
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