Key Highlights:
- Spot ether ETFs experienced $401 million in outflows this month, which is equivalent to 5.9% of their total assets.
- Bitcoin ETFs faced $893 million in outflows during the same period, making up 0.9% of their total assets.
- Ether has decreased by 37% year-to-date, compared to a 7.5% drop for Bitcoin.
U.S. exchange-traded funds focused on ether (ETH) have faced a withdraw of $401 million so far in March, erasing gains from January and February.
Approximately 6% of the $6.77 billion in assets managed by these ETFs has been redeemed this month as per data from SoSoValue. Just one day, March 4, recorded positive inflows of $14.58 million. In contrast, January and February had inflow totals of $101 million and $60 million, respectively.
Despite these challenges, the overall trend indicates the Bitcoin ETFs experienced $893 million in outflows, yet this was a modest 0.9% of the $94.35 billion in managed assets. Bitcoin funds continue to show net positive performance year-to-date after a robust inflow of $5.25 billion in January.
Market trends from March 1 indicate that ether dropped approximately 8.5% while Bitcoin gained over 3%. Ether now hovers around $2,080, representing a dramatic drop compared to Bitcoin, which is around $87,300.
Despite the withdrawals, ether ETFs have a net inflow of $2.42 billion since their inception, though it pales in comparison to Bitcoin’s $36.05 billion, illustrating a vast difference in investor interest between the two cryptocurrencies.
