On Monday, spot bitcoin exchange-traded funds ended their 12-day net inflow streak while ether funds stretched their positive run to its 12th day.
According to data from SoSoValue, spot Bitcoin ETFs experienced $131.35 million in outflows, with Ark & 21Shares’ ARKB accounting for the largest share at $77.46 million. Funds from Grayscale, Fidelity, Bitwise and VanEck also reported net outflows for the day. BlackRock’s IBIT, the largest spot bitcoin ETF in terms of net assets, reported zero flows along with six other ETFs.
This marks the first total daily net outflow from the bitcoin funds since July 1, after which the ETFs attracted $6.12 billion worth of net inflows during the 12-day run.
Meanwhile, spot Ethereum ETFs extended their total net inflow streak to its 12th day, recording $296.6 million in positive flows on Monday. The inflows were led by Fidelity’s FETH, which reported $126.93 million in inflows, followed by $102 million moving into BlackRock’s ETHA. Grayscale’s Mini Ethereum Trust and Bitwise’s ETHW also saw net inflows.
Spot ether ETFs have recently experienced their most significant positive inflows since their launch on July 24. The nine funds recorded $3.53 billion in total net inflows over the 12-day period, with daily inflows surpassing those of bitcoin ETFs on several days.
Presto Research Analyst Min Jung said on Monday that the flow data reflects a “familiar rotation” from bitcoin to Ethereum, which often precedes altcoin momentum.
“Bitcoin has rallied significantly this year, and for investors who feel they’ve ‘missed’ the BTC trade or are looking for the next opportunity, Ethereum is becoming the natural next step,” Jung said. “Over the past week, Bitcoin dominance has dropped by 5%, suggesting early signs of capital rotating down the risk curve. Historically, alt seasons begin with rising ETH prices and declining BTC dominance while Bitcoin remains rangebound.”
Given that the ongoing crypto market rally is fueled mainly by institutional capital, there’s uncertainty as to whether this momentum will extend beyond large-cap altcoins to the broader market, Jung said, suggesting the scenario might unfold differently for this cycle.
According to The Block’s crypto price page, Bitcoin is down 1.27% in the last day, trading at $116,868. Ether is also down 2.17% to $3,679.
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