Net Outflows of $39M from Ether ETFs as Bitcoin Draws $159M Inflows
On Thursday, U.S. Ether ETFs recorded net outflows of $39 million, marking their third consecutive day of disinvestment, while Bitcoin funds attracted $159 million. Despite these divergent flows, Ether's price rose by 2% and Bitcoin surpassed $77,000.
U.S. listed (ETF) funds on Ether recorded net outflows of $39 million on Thursday, marking their third consecutive day of disinvestment after $224 million流出 on Wednesday and $141 million on Tuesday, according to SoSoValue.
Interestingly, Ether still rose by 2% to settle around $2,470, showing that capital movements don't always align with price dynamics. Ripple (XRP) funds, meanwhile, lost approximately $5 million, reversing a small inflow recorded the previous day.
Over the past 30 days, Ether ETFs maintain a surplus of over $1.5 billion, while Bitcoin funds show a surplus of approximately $2.5 billion, indicating a strong investor base despite recent outflows.
These figures highlight the resilience of the crypto market against volatile daily flows, a phenomenon that CoinDesk analysts describe as "trading on the same signal all week," where cryptocurrencies followed stock movements rather than leading them.
Bitcoin funds attracted approximately $159 million on Thursday, reinforcing their dominant position and pushing monthly inflows to nearly $2.5 billion. Bitcoin's price also crossed $77,216, up over 1% over 24 hours.
The sole Zcash fund in the U.S. recorded an inflow of nearly $47 million, its monthly peak, bringing total monthly inflows to over $230 million. Zcash itself rose by 10% to reach $1,488, solidifying its place as a leader among crypto assets attracting capital while larger ETFs lose funds.
Solana surged by 5% to around $105, Binance Coin (BNB) rose nearly 4% to $750, and Dogecoin gained about 4%. Ether and XRP both increased by 2%, while Bitcoin surpassed $77,000.
Tron was the only major cryptocurrency to remain almost stable, highlighting performance divergence within the sector. HyperLiquid (HYPE) closely followed, with a nearly 10% rise to exceed $86, reflecting sustained interest in highly volatile tokens.
Macroeconomic Context: Stocks, Bonds, and Oil
Traditional markets also advanced: the S&P 500 gained around 1% for its best day in six weeks, the Nasdaq 100 climbed nearly 2%, and a semiconductor index rose by 3%.
U.S. Treasury yields fell at the 10-year mark, interrupting an eight-day upward streak, while the dollar remained stable. Gold regained strength, and Brent settled below $105 per barrel, reflecting easing inflation pressures following oil price declines.
The Role of the Fed's Tightening Policy
These movements came a day after the Federal Reserve raised interest rates for the first time since 2023, a decision aimed at curbing inflation. The drop in oil prices reduced inflation fears, allowing bonds to rally even as stocks rose, a rare scenario where both asset classes move positively in tandem.
CoinDesk analysts note that the tightening policy has created an environment where capital flows can shift quickly between traditional and crypto-ETFs, as evidenced by the outflow from Ether ETFs alongside inflows into Bitcoin and Zcash funds.
ETF Flows: Key Indicator to Watch Next Week
The Zcash fund, currently attracting $47 million in inflows, is now the only major crypto ETF drawing capital while the two largest, Ether and Bitcoin, record outflows. This reversed dynamic is the primary indicator to monitor over the coming days.
If Zcash continues to attract capital, it could signal investor repositioning toward assets perceived as less correlated with rapid price movements. Conversely, a shift in flows back to Ether or Bitcoin ETFs would confirm the persistent dominance of the two largest crypto assets. The trading of these flows will remain central to market participants' focus.
