On January 30, Bitcoin ETFs saw a 540% jump in inflow transactions, a stark difference from the previous day. Nine Ethereum ETFs followed in its footsteps, with positive inflows.
Bitcoin ETFs Steadily Climb to the Top.
U.S. spot Bitcoin ETFs have outperformed environmental, social, and governance ETFs in total assets, with a return of almost 127%. According to data from SoSoValue, the spot Bitcoin ETFs drew in $588.22 million on Thursday.
Following the SEC’s approval last year, U.S. spot BTC ETF issuers have recorded a cumulative total net cash inflow of about $40.18 billion. With the current U.S. administration’s interest in and push for BTC assets, there is speculation that this trend is rising.
Meanwhile, their performance in the market has impressed analysts, especially Bloomberg Senior ETF analyst Eric Balchunas. According to him, net assets held in Bitcoin ETFs are almost the same as those in the gold spot. However, he is less enthusiastic about ETH ETFs.
ETH ETFs Following BTC ETFs Lead With Newer Altcoins Breaching the Market
Eric Balchunas noted in a statement on X (formerly Twitter) that Ethereum ETFs did not catch up to the success of BTC ETFs in the market. Despite introducing profitable altcoins, he believes they might not catch up to the success of Bitcoin ETFs.
However, on January 30th, Ethereum ETFs saw increased inflows, with $67.77 million entering the funds, with BlackRock’s ETHA leading the inflows. Fidelity’s FETH followed closely, recording inflows of $15.41 million. Grayscale’s ETHE fund was the only outlier, with an outflow of $40.29 million.
Since launch, the total net inflows for the top spot Ethereum ETFs have reached $2.73 billion. Although barring BTC ETF’s success, the crypto market has witnessed the launch of new ETF fillings for Solana, XRP, Dogecoin, and others waiting for SEC approval.
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