Bitcoin ETFs bleed $268M while Ethereum catches fire

US Bitcoin exchange traded funds (ETFs) saw a $268 million outflow, while Ethereum-linked ETFs picked up the pace. Institutional appetite for Bitcoin cooled on Monday as BTC ETFs marked the third straight day of capital pullback. This drawdown signals a short-term dip in confidence among large players.

The global digital assets market recorded a marginal surge over the last day as Bitcoin consolidated around the $105,000 level, stuck in a tight range that has dulled bullish momentum. The fear and greed index depicts that investors’ sentiment stood “Neutral” for now after being greedy for a couple of months.

Wall Street swaps Bitcoin for Ether

According to data , BlackRock’s IBIT led the way in withdrawals, posting $130.4 million of outflows, while ARK’s ARKB remained second in line with almost $74 million in outflows. However, IBIT’s cumulative inflow still stands strong at $48.44 billion. Fidelity’s FBTC and Grayscale’s GBTC saw $50.11 million and $16.47 million withdrawn from the funds, respectively.

BTC ETFs recorded a net outflow of over $616.22 million on May 30. This fallback in ETF flows can be seen as a textbook response to price stagnation. Institutions often rotate capital during these consolidation phases, either into altcoins or risk-off assets.

Bitcoin price surged marginally over the past day, meanwhile, it is still down by 4% over the past 7 days. BTC is trading at an average price of $105,269 at the press time with a trading volume of $43.88 billion. But while Bitcoin stalls, Ethereum is catching fire.

ETH ETFs reported $78.17 million in net inflows on Monday. This extends their green streak to 11 consecutive trading days. Over the past week, Ether-linked investment products have attracted $321 million, their biggest haul since December.

Data shows that BlackRock’s ETHA recorded $48.40 million of inflow in the last trading session. Its cumulative inflow stood at $4.65 billion. Fidelity’s FETH was the only other ETH-linked ETF that saw inflow. It posted an inflow of almost $30 million for the day.

Ethereum price surged by more than 5% in the last 24 hours, leading the way for the altcoins. ETH surged to $2,650.18 before retracing slightly to around $2,600. Ether is trading at an average price of $2,607 as of press time.

ARKB slashes share price

The diverging flows between BTC and ETH ETFs are reflecting a shifting institutional narrative. As Bitcoin consolidates under heavy resistance, Ethereum is being viewed as a high-conviction bet.

Amid all the uncertainty. ARK 21Shares US announced that it will execute a 3-for-1 share split of its ARK 21Shares Bitcoin ETF (ARKB). This will be done to make shares more affordable and accessible, especially for retail investors. It will come into effect from June 16 at market opening.

It added that the share split won’t affect the ETF’s NAV, ticker, or investment strategy, but it will reduce the per-share price to a third of its current level.

ARKB closed Monday at $104.25, up nearly 27% this quarter. With Bitcoin ETFs pulling in $5.25 billion in May alone, and gold ETFs bleeding out, ARKB’s move could further solidify its position as a vehicle for both retail and institutional exposure to digital gold.

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