Here is the big difference between Bitcoin ETFs and Ethereum ETFs

Almost three months have passed since the launch of exchange-traded funds that track the performance of the second largest cryptocurrency, and CryptoQuant decided to look at the differences between their flows compared to the data from the first days of BTC ETFs.

The numbers don’t lie, and they are clearly in favor of BTC.

ETF battle between BTC and ETH

While this year’s much-anticipated bull run halfway through has yet to happen, 2024 will go down in the history books as the year in which two cryptocurrencies received massive validation from US regulators to have their own ETFs. Naturally, Bitcoin led the pack, and 11 of these funds saw the light of day in mid-January after more than a decade of rejections by the US Securities and Exchange Commission.

Ethereum’s path was similar, and perhaps faced more obstacles in the end. However, seven such financial vehicles were launched by the end of July.

The similarities end there as investor perception and behavior towards the two assets have been completely different. CryptoQuant data from the first 79 days after the ETFs’ respective launches confirms CryptoPotato’s previous reports that demand for Ethereum is lacking while interest in Bitcoin was (and sometimes still is) substantial.

In the first few months of trading, ETH ETFs saw over $4 billion in net outflows. The same time period for BTC ETFs shows net inflows of over $29 billion.

The #Ethereum The ETF is showing signs of weak demand, with outflows seen, while the #Bitcoin ETF has seen significant inflows.

After 79 days of ETF trading:$BTC ETF Flow: +$29.1M$ETH ETF Flow: -$4.1M pic.twitter.com/b9ss5tUuA0

— CryptoQuant.com (@cryptoquant_com) October 10, 2024

ETH vs BTC Price Performances

Ethereum ETFs went live on July 23, and the price of the underlying asset hovered around $3,500 that day. Since then, it has lost over a thousand and now sits below $2,400, representing a 32% decline over the aforementioned 79 trading days.

BTC price traded around $47,000 on the day the ETFs were launched (January 11) and faced immense volatility immediately. However, it soared to a new all-time high of $73,800 in two months, and although it had recovered on the 79th trading day (May 3), it still stood at roughly $60,000.

That means the largest cryptocurrency had gained about 28% in value in the first 79 days of ETF trading in the United States, while the products attracted more than $29 billion in net inflows. And as mentioned above, the landscape around Ethereum ETFs is quite the opposite.

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