Ethereum [ETH] ETFs See Largest Inflow in Over a Month, But Still Lag Behind Bitcoin [BTC]

The Ethereum [ETH] ETFs have experienced their largest inflow in over a month, according to recent data. Despite this, ETH ETF inflows still significantly lag behind those of Bitcoin[BTC], reflecting a stronger preference for Bitcoin ETFs.

The recent data reveals that Ethereum [ETH] ETFs have experienced their largest inflow in over a month. However, these inflows still fall significantly short of those seen in Bitcoin [BTC] ETFs, indicating a stronger preference among investors for Bitcoin ETFs.

First weekly inflow since August

According to data from SosoValue, the Ethereum ETFs saw over $84.6 million in inflows last week, with three out of five trading days recording positive inflows.

This marks the highest weekly inflow since August 9. In contrast, Bitcoin ETFs recorded a massive $1.11 billion in inflows during the same week, with inflows occurring each day.

This was the largest weekly inflow for Bitcoin since July 19.

Ethereum ETF still lags behind Bitcoin ETF

The Ethereum ETFs started trading in the U.S. on July 23, about six months after the launch of Bitcoin ETFs.

In the five weeks following the launch of Ethereum ETFs, the funds saw net outflows of around $500 million, while Bitcoin ETFs recorded net inflows of over $5 billion.

Bitcoin’s first-mover advantage is a factor in this disparity.

The excitement surrounding Bitcoin’s ETF launch drove substantial inflows, while ETH’s ETF launch, though promising, has seen less sustained buzz.

Additionally, the value difference between the two assets comes into play — Bitcoin holds over 50% of the crypto market cap, while Ethereum holds about 14%.

ETH price drops as September ends

Over the past few days, Ethereum’s price has seen a decline, falling below the $2,600 level.

At press time, Ethereum was trading at around $2,597, down over 2%. Despite the decrease, ETH remains above its 50-day moving average, indicating a short-term bullish trend.

The Relative Strength Index (RSI) was around 53, further reinforcing the bullish outlook suggested by the moving average.Realistic or not, here’s ETH market cap in BTC’s terms

While The Ethereum ETF saw a notable inflow after a period of slow activity, it still lags far behind Bitcoin ETFs in terms of volume and investor interest.

Factors like Bitcoin’s first-mover advantage and market dominance play a crucial role in this trend. Despite recent price declines, Ethereum maintains a bullish position, trading above key technical indicators.