- Bitcoin ETFs drew 381M in daily inflows as ETH products extended a 7-day outflow.
- ETH BTC ratio fell to 0.018071, its lowest since 202,0, deepening Ethereum’s slide.
- Institutions are reallocating funds toward BTC as ETH ETFs see shrinking assets.
Bitcoin spot ETFs are gaining momentum with renewed inflows, while Ethereum products face sustained institutional exits. Recent ETF data and asset performance show a growing divergence between the two leading cryptocurrencies.
Institutional Demand Rebuilds Around Bitcoin Spot ETFs
Bitcoin spot ETFs recorded $381.40 million in net inflows on April 21, 2025, marking a sharp sentiment shift. Total net assets across Bitcoin ETFs hit $97.61 billion, with BTC rising to $87,415.10 by the end of the session. Fidelity Wise Origin led with 306 BTC in daily inflows, totaling $26.95 million, stated in an update by Lookonchain.
iShares (BlackRock) remains the dominant ETF, holding 573,188 BTC in total exposure, making up over half of all assets. Bitwise recorded a 7-day net inflow of 283 BTC, while ARK 21Shares saw a 1,187 BTC outflow. Grayscale’s main trust posted a modest weekly loss of 47 BTC, and Grayscale Mini added 145 BTC.
Ethereum ETF Metrics Show Persistent Weakness
The ETH/BTC ratio fell to 0.018071 on April 21, its lowest level since January 2020, marking a multi-year decline. According to a report by Barchart, the structure revealed continuous lower highs since mid-2022, lacking bottom formations or reversal signals. ETH/BTC peaked around 0.088 in 2022 before entering a prolonged bearish cycle into 2025.
Ethereum spot ETFs recorded $25.42 million in net outflows on the same day, the seventh straight session of withdrawals. Grayscale Ethereum Trust posted a 7-day outflow of 28,877 ETH, while Fidelity saw 6,995 ETH pulled. Total ETH held in ETFs declined to 3,325,621 ETH, losing approximately $61.22 million in value.
Rising Hashtalk Spread Shows Diverging Capital Flows
Rising Hashtalk confirmed all 12 Bitcoin spot ETFs were in the green on April 21, showing unified institutional support. Ethereum’s nine ETFs, by contrast, recorded zero inflows, underlining the widening divergence in investor appetite for the two assets.
Bitcoin ETF inflows aligned with its rising price trend and expanded net assets over the week-long window. Ethereum ETFs saw shrinking total net assets, which fell to $5.21 billion, accompanied by continued price erosion to $1,573.70.
ETF Flow Structure Signals BTC Preference
Total BTC held across ETFs reached 1,112,616 BTC, worth approximately $98.16 billion as of April 21. Weekly Bitcoin ETF net flows still showed a minor 383 BTC outflow, but daily activity reflected regained investor interest.
Ethereum ETF positions continued declining, with only 21Shares Core and Grayscale Mini Trust recording net gains. The pricing and ETF flow data confirm a real-time reallocation of institutional capital favoring Bitcoin over Ethereum.
