Ethereum ETF Outperforms Bitcoin in Digital Asset Fund Report
In a recent digital asset fund report, the Ethereum exchange-traded fund (ETH ETF) has emerged as the top performer in the institutional investment race, outshining Bitcoin ETF.
ETH ETF vs. Bitcoin ETF Performance
The report highlights that despite the overall market weakness, ETH spot ETF funds saw inflows of approximately US$105 million last week. In contrast, Bitcoin Spot ETF experienced outflows of around $170 million. This indicates a shift in institutional investors’ preference towards Ethereum over Bitcoin.
Grayscale’s Impact on Ethereum Holdings
Grayscale, a prominent institutional investor, has launched the Grayscale Ethereum Mini Trust (ETH) with seed funding of approximately US$1 billion. The trust currently holds about 360,000 ETH, contributing to Grayscale’s total Ethereum holdings of 2.25 million ETH. This development marks a 25% reduction in Grayscale’s Ethereum holdings, reflecting changing dynamics in the digital asset market.
Market Sentiment and Asset Inflows
Despite recent crypto market volatility triggered by geopolitical tensions and stock market declines, digital asset investment products saw inflows of $176 million. Investors seized the opportunity to capitalize on the market dip, leading to a recovery in total assets under management to $85 billion.
The report also provides insights into country-based data on financial inflows, with the United States, Switzerland, Brazil, and Canada all experiencing notable inflows. However, the United States also recorded the highest net outflow, indicating a mixed sentiment towards digital assets among investors.
