After leading ETF inflows for seven consecutive days, Ethereum has finally been overtaken by Bitcoin. The shift comes as the broader crypto market shows signs of slowing, prompting investors to reassess their positions.
On August 28, Bitcoin ETFs recorded approximately $179 million in inflows, significantly ahead of Ethereum’s $39.2 million, according to SoSoValue data.
Ark 21Shares’ ARKB led Bitcoin ETF flows with around $80 million, followed by BlackRock’s IBIT with $63.7 million and Bitwise’s BITB with $25 million. Other issuers, including Grayscale and Fidelity, posted more modest numbers, while seven ETFs reported no activity.
Ethereum-focused funds saw inflows primarily from BlackRock’s ETHA ($67.6 million) and Grayscale’s ETH ($6.3 million), which were partially offset by $34.7 million in withdrawals from Fidelity and Bitwise, with little activity elsewhere.
This marks the first time in over a week that Bitcoin ETFs have outpaced Ethereum in daily net inflows. From August 21 to 27, Ethereum ETFs had amassed $1.83 billion in inflows, compared to just $171 million for Bitcoin. Ethereum’s strong week pushed its overall monthly ETF inflows to $3.4 billion, while Bitcoin experienced net outflows of $624 million over the same period.
ETF Flows Reflect Price Volatility
The recent shift in ETF flows comes amid broader market uncertainty. Both Bitcoin and Ethereum have trended downward in recent days, as investors reassess amid stalled momentum.
At the time of writing, Bitcoin trades around $113,200, down nearly 3% over the past 24 hours. Earlier in the week, it dipped near $109,000, roughly 9% below its mid-August all-time high of $124,128.
Ethereum has also retraced sharply after reaching a fresh record high of $4,953 on August 24. ETH currently hovers around $4,333, down 5.6% on the day and nearly 13% from its peak, erasing much of the week’s gains despite leading ETF inflows for seven straight days.
Bitcoin Still Dominates in Scale
Despite Ethereum’s recent ETF momentum, Bitcoin remains far ahead in total assets under management. As of August 28, Bitcoin ETFs hold nearly $145 billion in net assets, compared to just $29.5 billion for Ethereum.
With inflows slowing and price momentum stalling, Ethereum’s short-term outlook appears less compelling relative to renewed investor interest in Bitcoin. Whether this shift marks a temporary one-day flip or the start of a broader rotation remains to be seen.
