Ethereum ETFs Gain Ground While Bitcoin Momentum Slows

Spot Bitcoin ETFs have managed to stay in the green for three consecutive weeks, but the momentum is clearly cooling off. After a long period of heavy outflows, investors turned optimistic in early July, pushing nearly $1 billion into these funds. However, the tide shifted toward the end of the week when the price of Bitcoin struggled to hold above $67,000. Friday saw significant outflows totaling $240 million, leaving the weekly net gain at a modest $33.79 million.

In contrast, Ethereum ETFs are seeing more consistent interest. These funds recorded net inflows of $104 million over the same period, suggesting that investors are currently favoring the second largest cryptocurrency. This trend helped push the price of Ethereum to a peak near $1,950 mid week, though the asset eventually pulled back alongside the broader market.

While the total net inflows for Ethereum funds have recovered by over $200 million recently, they still have a long way to go to reach the highs seen earlier this year. Traders should watch to see if these ETF flows can stabilize or if the recent market volatility will lead to more profit taking from institutional investors in the coming days.