Bitcoin spot ETF records $332.7 million in net inflows… Ethereum-led market trend broken

Bitcoin spot exchange-traded funds (ETF) recorded net inflows, reversing the flow from Ethereum ETFs.

On the 3rd (local time), according to The Block, Bitcoin ETFs recorded total net inflows of $332.7 million over the day, while Ethereum ETFs experienced net outflows of $135.3 million.

The inflows that day were led by Fidelity's FBTC ($132.7 million) and BlackRock's IBIT ($72.8 million), and Grayscale, Ark & 21Shares, Bitwise, VanEck, and Invesco also recorded net inflows. Conversely, in Ethereum ETFs, Fidelity's FETH saw outflows of $99.2 million and Bitwise's ETHW saw outflows of $24.2 million, among others.

Nick Luck, LVRG Research director, explained, "The ETF fund flows moving from ETH to BTC signal that institutional investors are rebalancing portfolios toward Bitcoin's stability amid macroeconomic uncertainty."

In August, Ethereum ETFs recorded inflows of $3.87 billion, far outperforming Bitcoin ETFs (-$751 million) in monthly performance.

In the short term, analysts say this flow could support Bitcoin's price around the $108,000 level and ease selling pressure. However, some expect that Ethereum may maintain an edge through year-end due to its revenue-generating structure and expanded digital asset treasuries.

Currently, Bitcoin is trading at $110,943, up 0.55% from the previous day, and Ethereum is trading at $4,327, down 1%.