$ETH could be poised to catch up
But for now, fund flows are still lagging behind $BTC !
Bitcoin has already started attracting institutional money back into the market, but Ethereum has yet to see the same happen.
On October 19, U.S. spot BTC ETFs saw net inflows of about $527 million, while ETH ETFs instead recorded net outflows of about $103 million.
On October 20, ETH ETFs saw another roughly $26.1 million in outflows, bringing the two-day total to nearly $130 million in net outflows.
ETH has now rebounded to around $2,450, but fund flow data shows that institutions still have a clear preference for BTC over ETH.
In the short term, I think ETH has room to catch up, especially if BTC can continue to rise and market risk appetite recovers further. ETH could very well challenge the $2,500–$2,600 range again.
But for a more sustained rally to take shape, the ETH/BTC exchange rate needs to at least stop weakening, while ETF flows should ideally return to net inflows.
But for now, fund flows are still lagging behind $BTC !
Bitcoin has already started attracting institutional money back into the market, but Ethereum has yet to see the same happen.
On October 19, U.S. spot BTC ETFs saw net inflows of about $527 million, while ETH ETFs instead recorded net outflows of about $103 million.
On October 20, ETH ETFs saw another roughly $26.1 million in outflows, bringing the two-day total to nearly $130 million in net outflows.
ETH has now rebounded to around $2,450, but fund flow data shows that institutions still have a clear preference for BTC over ETH.
In the short term, I think ETH has room to catch up, especially if BTC can continue to rise and market risk appetite recovers further. ETH could very well challenge the $2,500–$2,600 range again.
But for a more sustained rally to take shape, the ETH/BTC exchange rate needs to at least stop weakening, while ETF flows should ideally return to net inflows.