In mid-September, US spot Ethereum ETFs recorded approximately $324 million in net inflows, surpassing the $307 million captured by Bitcoin ETFs during the same period. While full-month estimates suggest Ethereum ETFs attracted around $445 million against $467 million for Bitcoin, the shift marks a notable change in investor behavior.
Bitcoin ETFs experienced significant volatility, including a single-day inflow of $731 million on September 3, followed by outflows of approximately $463 million between September 8 and 11. In contrast, Ethereum ETFs saw consistent growth, logging $216 million in inflows on September 11 alone.
BlackRock’s ETHA product recorded significant daily inflows, including $80.5 million on September 14 and $148.8 million on September 11. Fidelity and Grayscale also reported meaningful volume across both asset classes throughout the month.
The momentum for Ethereum follows a strong performance in August, which saw $1.75 billion in net inflows. Cumulative net inflows for Ethereum ETFs currently stand at approximately $13.5 billion, compared to over $55 billion for Bitcoin ETFs since their respective launches.
Analysts attribute the shift to product differentiation, specifically the introduction of staking features in select Ethereum ETFs that provide yield. Additionally, Ethereum’s smaller market footprint appears to offer more stable flows during periods of macroeconomic uncertainty compared to the more liquid Bitcoin.
