- Contrasting trends emerged between BTC and ETH ETFs.
- BTC and ETH ETFs remained stagnant throughout the past week.
- Ethereum’s positive switch boosts investors’ hopes for the short term.
Spot On Chain, the AI-driven crypto data analysis platform, has highlighted a contrasting trend between Bitcoin and Ethereum ETFs. In its latest report on X, the analysis platform revealed that the Bitcoin ETF ended a 10-day streak of inflows, while the Ethereum ETF swung in the opposite direction by ending a 3-day streak of outflows.
According to Spot On Chain, the net flows for both Bitcoin and Ethereum remained stagnant throughout the week, ending on March 28, suggesting hesitation from buyers and investors. Nonetheless, Bitcoin’s price gained 7.5% during the period, highlighting the week-long steady inflow, even though the price has pulled back in the past 48 hours.
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In the meantime, Ethereum also recorded notable gains in the past week, surging 10.5% amid bearish pressure. The flagship altcoin has struggled to recover its bullish momentum since forming a double-top formation on the weekly chart. The cryptocurrency has lost over 55% since November last year, tumbling from $4,109 to trade for $1,834 at the time of writing.
Notably, Bitcoin’s price has benefited more from an ETF launch than Ethereum. BTC gained over 185% last year after an SEC ETF approval enabled institutional investors to adopt the cryptocurrency. BTC’s 2024 rally reflected a classic bull run, with the cryptocurrency establishing a new all-time high of $109,356.
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Ethereum did not replicate BTC’s behavior. The altcoin’s ETF approval by the SEC in May 2024 raised investors’ hopes. However, Ethereum has underperformed compared to Bitcoin. The altcoin’s notable rally in 2024 came with the general crypto market rally that followed Donald Trump’s election victory last November.
Nevertheless, the recent development observed by Spot On Chain could signal renewed hope for ETH. A switch to positive ETF flows could boost the cryptocurrency’s value in the short term and motivate ETH bulls for further upward momentum ahead of an anticipated bull run.
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