It is often heard that Ethereum enthusiasts prefer its ETFs over traditional Bitcoin trackers

It is often heard that Ethereum enthusiasts prefer its ETFs over traditional Bitcoin trackers. More flexible, more promising in DeFi, more “techy,” they said.

According to recent data from FlowBank, opportunistic traders prefer to focus on Bitcoin over Ether.

On April 17, Bitcoin ETFs displayed strong performance with 107 million dollars in net inflows. Among the notable contributors are BlackRock and Fidelity, who contributed 81 and 25.9 million $ respectively to the new capital. This marks a significant recovery for the product, which had shown outflows of 171 million dollars the day before.

In contrast, Ethereum ETFs remained unchanged, with no inflows or outflows. This lack of activity is striking, especially when compared to the momentum observed in BTC-linked products.

The same funds had recorded net losses of 32 million $ in the previous week, and over the month, the losses amounted to 171 million $.

Chart-wise, the ETH crypto is currently trapped between two resistance zones at 1,540 and 1,630 dollars, and the RSI is hovering near the oversold zone. The bullish attempts are quickly dashed.

As @ali_charts noted on X, Ethereum $ETH is trading within two major supply zones: $1,540 and $1,630. A break of either zone could determine the next move.

However, for the moment, the bears appear to be firmly entrenched. ETH is trading below the 50, 100, and 200-day moving averages, and the volumes are decreasing.

After attracting more than 3 billion $ in 2024, Ethereum ETFs are now facing difficulties. The drop below 2,000 $ in March had a significant impact, leading to successive redemptions and managers closing the taps.

Ultimately, institutional players are currently focused on taking less risks and prefer the flagship vessel—bitcoin—when the sea is rough.

According to Farside Investors and SoSoValue, these same funds had recorded net losses of 32 million $ in the previous week. Over the month, the losses amounted to 171 million $. Even the most patient traders are beginning to notice.

According to recent data from FlowBank, opportunistic traders prefer to focus on Bitcoin over Ether.

On April 17, Bitcoin ETFs displayed strong performance with 107 million dollars in net inflows. Among the notable contributors are BlackRock and Fidelity, who contributed 81 and 25.9 million $ respectively to the new capital. This marks a significant recovery for the product, which had shown outflows of 171 million dollars the day before.

In contrast, Ethereum ETFs remained unchanged, with no inflows or outflows. This lack of activity is striking, especially when compared to the momentum observed in BTC-linked products.

The same funds had recorded net losses of 32 million $ in the previous week, and over the month, the losses amounted to 171 million $. Even the most patient traders are beginning to notice.

Chart-wise, the ETH crypto is currently trapped between two resistance zones at 1,540 and 1,630 dollars, and the RSI is hovering near the oversold zone. The bullish attempts are quickly dashed.

As @ali_charts noted on X, Ethereum $ETH is trading within two major supply zones: $1,540 and $1,630. A break of either zone could determine the next move.

However, for the moment, the bears appear to be firmly entrenched. ETH is trading below the 50, 100, and 200-day moving averages, and the volumes are decreasing.

After attracting more than 3 billion $ in 2024, Ethereum ETFs are now facing difficulties. The drop below 2,000 $ in March had a significant impact, leading to successive redemptions and managers closing the taps.

Ultimately, institutional players are currently focused on taking less risks and prefer the flagship vessel—bitcoin—when the sea is rough.