- Bitcoin ETFs saw $745M in outflows, led by BlackRock’s IBIT withdrawing 4,113 BTC despite holding 660K BTC overall.
- Ethereum ETFs gained over 26K ETH daily, with BlackRock and Fidelity driving strong institutional inflows totaling $ 277 M+.
- ETH/BTC’s steady uptrend and bullish technicals point to a possible breakout as investor sentiment heavily favors Ethereum.
Ethereum ETFs are gaining momentum with institutional inflows rising sharply, while Bitcoin ETF products recorded steep outflows totaling over $745 million. The shift signals changing capital preference among major crypto funds and ETF issuers.
Bitcoin ETF Products See $745M in Daily Withdrawals
According to a post by CW, Bitcoin ETFs experienced net outflows of 7,157 BTC on May 30, equivalent to $745.93 million. BlackRock’s IBIT recorded the largest withdrawal, 4,113 BTC, despite remaining the largest holder with 660,842 BTC.
Over the past week, IBIT still posted a net inflow of 5,271 BTC, suggesting ongoing investor confidence in the product. Meanwhile, Fidelity’s FBTC showed a contrasting trend, with 131 BTC outflow daily and 2,553 BTC withdrawn over the week.
ARK 21Shares (ARKB) also posted losses, with 1,147 BTC out in one day and 3,338 BTC weekly. Smaller issuers like Bitwise, VanEck, and Valkyrie recorded outflows under 150 BTC, indicating lighter shifts across smaller vehicles.
Ethereum ETF Inflows Accelerate Across All Major Issuers
Meanwhile, Ethereum ETF flows reversed the trend entirely. According to Santiment, ETH-related funds gained 26,572 ETH in one day and 110,489 ETH over the past week, worth over $277 million.
BlackRock’s ETH ETF led inflows with 27,241 ETH daily and 78,359 ETH weekly, lifting total holdings to 1,417,021 ETH. Fidelity followed with 6,604 ETH in one day and 25,474 ETH weekly, now holding 435,631 ETH.
Grayscale’s main ETH trust saw minor outflows of 2,288 ETH weekly, but its Mini Trust added 5,354 ETH. Smaller issuers, including Bitwise and VanEck, showed consistent, if smaller, inflows under 5,000 ETH each.
Market Sentiment Leans Heavily Toward Ethereum
This signals either growing speculative confidence or strategic hedging toward ETH. Social sentiment data showed 3.0 bullish Ethereum mentions for every bearish one. Bitcoin trailed with only 1.3x more bullish than bearish comments.
The ETH price climbed to $2,566.53 while BTC hovered near $104K. Market chatter and social indicators increasingly point to Ethereum as the favored asset among retail and institutional traders alike.
ETH/BTC Technical Pattern Suggests a Breakout Ahead
The ETH/BTC pair hit 0.02425, up 0.92% on the day. Sykodelic called for a potential breakout as the price maintains a higher low structure. He deems this to be a bullish consolidation phase with upside potential to 0.03000.
Volume remains steady within a symmetrical triangle pattern, while the 200-day MA at 0.02800 provides a likely target. This means Ethereum’s breakout momentum may still be building as capital and sentiment continue flowing its way.
