Capital Inflows Continue into Bitcoin ETFs While Ethereum Sees Outflows

Spot Bitcoin ETFs continued to attract investor interest, recording net inflows for the fourth straight trading day. On May 12, a total of $5.09 million was added across various spot Bitcoin ETF products, highlighting ongoing confidence in Bitcoin as a digital asset investment vehicle.

Among the ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) stood out, receiving the largest single-day net inflow of approximately $69.41 million. This strong interest in IBIT indicates that institutional and retail investors continue to favor this fund as a reliable gateway to Bitcoin exposure.

However, not all Bitcoin ETFs saw gains. The Grayscale Bitcoin Trust (GBTC), which has experienced steady outflows since its conversion to a spot ETF, recorded a net outflow of $32.93 million on the same day. Despite this, the overall net flow remained positive thanks to strong performance from other issuers.

In stark contrast, spot Ethereum ETFs faced a negative trend. The nine Ethereum-based ETFs registered a combined net outflow of $17.58 million, with none reporting any net inflows. This lack of demand signals a short-term hesitation among investors when it comes to Ethereum-related products, possibly influenced by broader market sentiment or pending U.S. regulatory decisions.

The ongoing divergence between Bitcoin and Ethereum ETF flows suggests that Bitcoin continues to be perceived as the more stable and dominant crypto asset in the institutional investment landscape. Market watchers will now be focusing on whether Ethereum ETFs can recover momentum and attract capital inflows in the coming weeks, especially with the potential approval of U.S.-listed spot Ethereum ETFs still uncertain.

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