According to the data, ETFS (Ethereum Spot Exchange-Traded Funds) is in the event of hitting Bitcoin funds for a week.
Ether Leeum surpassed Bitcoin in SPOT ETF Netflows.
In the new post of X, Sentora (previous INTOTHEBLOCK), an Institutional Defi Solutions provider, talked about the latest trends in Ethereum Spot ETF Netflow. SPOT ETF is an investment vehicle that investors can be exposed to basic assets such as ETH without owning assets directly.
ETFs are traded on traditional platforms, so investors can invest in cryptocurrency by investors who are not familiar with digital asset wallets and exchange.
The route with this digital asset is relatively new and BTC was approved in the early 2024 US Securities and Exchange Commission (SEC) and ETF approval in mid -2012.
In general, Bitcoin Spot ETF tends to surpass Etherrium in terms of capital flow because Bitcoin is a larger asset. But in recent years, the situation has been different. As Sentora explains
Interestingly, the ETF has now surpassed the BTC ETF for seven consecutive days. Tend to increase investor rotation and strengthen relative emotions for ETH.
In other words, ETH did better than BTC at this time, but it does not mean that coins enjoyed inflow. As you can see from the data in Sosovalue, the ETF of the coin was immediately faced with the outflow.
How the ETH spot ETF netflow has changed over the past few months | Source: Sentora on X
However, during the leak, Ethereum Spot ETF was doing better than Bitcoin because it had less bleeding than Bitcoin. Over the last few days, Netflow has changed its net inflow of $ 455 million on Tuesday, changing to positive assets.
Prior to the recent negative trend, ETH Spot ETF has been in the net inflow per week since May.
The trend in the weekly netflow for the US ETH spot ETFs | Source: Glassnode on X
For a week, we saw a net leak of about 105,000 ETH ($ 486 million). This week still remains whether it will return to green in this graph.
In terms of weekly characters, another indicator of ETH recently declined is the active address, as Sentora pointed out in another X post.
The value of the metric appears to have been going down since the earlier high | Source: Sentora on X
As shown in the chart above, Ether Lee has seen about 3.8 million addresses in the blockchain’s trading activity last week. This has fallen compared to the highest point in early August, but it is still high if it decreases for the bull market in the past.
ETH price
At the time of writing, Ether Leeum trades about $ 4,600, rising more than 7% last week.
Looks like the price of the coin has bounced off its low | Source: ETHUSDT on TradingView
Chart of DALL-E, GlassNode.com, Sosovalue.com, Defillama.com, TradingView.com
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