Bitcoin ETFs Lag Behind Ether ETFs Ahead of Thanksgiving

Bitcoin exchange-traded funds (ETFs) have significantly lagged behind their Ethereum counterparts in terms of inflows over the last few trading days leading up to Thanksgiving, according to data from SoSoValue. From November 22 to November 27, spot Bitcoin ETFs saw $32.2 million in inflows, a stark contrast to the $224.8 million inflows recorded by spot Ethereum ETFs during the same period.

This trend comes despite Bitcoin experiencing a 2.7% price drop over the past week, while Ethereum saw a 5.3% price rally over the same timeframe. The inflows into Ethereum ETFs may also surpass those of Bitcoin for the first time in weekly net inflows, depending on how the trading session unfolds on November 29.

While Bitcoin ETFs have seen a slowdown in recent inflows, the month of November has still been a record-breaking one, with over $6.2 billion in net inflows. This surpasses the previous record of $6.2 billion set in February. Bitcoin ETFs had their largest inflow week from November 18 to 22, with $3.38 billion in inflows, pushing Bitcoin towards an all-time high of $99,645 by the end of the week.

The surge in inflows into Ethereum ETFs can likely be attributed to Ethereum’s price rally, which may have been fueled by a partial legal victory for crypto privacy mixer Tornado Cash in U.S. courts. Additionally, investor sentiment toward Ethereum has been bolstered by expectations of a more favorable regulatory environment, especially with the potential replacement of current SEC Chair Gary Gensler by Paul Atkins, a former SEC commissioner with a more crypto-friendly stance. This has led to increased optimism about the future of decentralized finance (DeFi) under a potential Donald Trump administration.

As of the latest data, Bitcoin is trading at $96,279, reflecting a 0.6% increase in the last 24 hours, while Ethereum is trading at $3,570 per coin, having decreased by 0.9%.