Data shows the Ethereum spot exchange-traded funds (ETFs) have been on a streak of beating Bitcoin funds for an entire week now.
The ETFs trade on traditional platforms, so investors unfamiliar with digital asset wallets and exchanges can just choose to invest into the cryptocurrency through them.
Generally, Bitcoin spot ETFs tend to outpace Ethereum in terms of capital flows, as Bitcoin is the larger asset with more interest behind it. Recently, however, things have been different. As Sentora explains,
Interestingly, ETH ETFs have now outperformed BTC ETFs for seven straight days; a trend that may signal growing investor rotation and strengthening relative sentiment toward ETH.
That said, while ETH has done better than BTC in this period, it doesn’t mean the coin has enjoyed only inflows. As data from SoSoValue shows, the coin’s ETFs were facing outflows just earlier.
Even during the outflows, however, Ethereum spot ETFs were doing better than Bitcoin’s as they were just bleeding to a lesser degree. In the past few days, the netflow has turned positive for the asset, with net inflows of $455 million occurring on Tuesday.
The streak-breaking week saw a net outflow of around 105,000 ETH ($486 million). It now remains to be seen whether the end of this week would bring back green on this graph.
As displayed in the above chart, Ethereum saw around 3.8 million addresses participating in transaction activity on the blockchain last week. This is down compared to the peak from early August, but still high when lined up against the past bull markets.
At the time of writing, Ethereum is trading around $4,600, up more than 7% over the last week.
