Ethereum ETFs Thrive with 110M Inflows as Bitcoin ETFs Experience Outflows

Ethereum ETFs continue to thrive in the market, attracting significant inflows of $110.1 million in value, according to a recent report by Lookonchain. The analytics firm revealed that on August 7th, nine Ethereum ETFs experienced consecutive days of net inflows, totaling 44,447 ETH. This indicates a growing confidence among Ethereum investors in the crypto sector. BlackRock’s iShares ETF emerged as the top performer in the Ethereum ETF sector, adding a substantial amount of 43,935 ETH, valued at nearly $108.83 million. In contrast, Bitcoin ETFs experienced outflows, with 10 funds collectively losing 1,899 BTC, equivalent to a value of around $109.14 million. Fidelity, a prominent Bitcoin ETF, reported outflows of 1,137 BTC worth $65.33 million. Despite these outflows, Fidelity still holds a significant amount of 175,858 BTC, valued at $10.11 billion.