As expected, the exploits of the spot Ethereum ETFs have been significantly reflected in the price of ETH, which reached a new all-time high of $4,887 on Friday, August 22. Interestingly, the latest market data shows the ETH exchange-traded funds are currently outperforming their Bitcoin counterparts.
According to data provided by Geraci, the US-based Bitcoin ETFs have registered more than $1.2 billion in net outflows so far in the month of August. On the other hand, the Ethereum exchange-traded funds have posted more than $2.8 billion in total net inflows in the same period.
Geraci also highlighted that the ETH-linked investment products have attracted almost double the capital of the Bitcoin exchange-traded funds since the start of July. Data from the ETF expert shows that the Ethereum ETFs have added over $8.2 billion in capital, while the spot BTC funds have attracted $4.8 billion in the past two months.
Cumulatively, the spot Ethereum ETFs recorded a net outflow of nearly $579 million in the past week, the worst weekly performance by the funds since launch. This week’s action is in stark contrast to the previous week’s $2.85 billion record, the ETFs’ best weekly performance so far.
