Bitcoin ETFs lagged behind Ether ETFs ahead of Thanksgiving

Spot Bitcoin exchange-traded funds in the US experienced significantly lower inflows than their Ethereum counterparts over the last four trading days, from November 22 to the day before Thanksgiving.

According to data from SoSoValue, 12 spot Bitcoin ETFs recorded inflows of $32.2 million in the last four trading days between November 22 and November 27; This was significantly lower than the $224.8 million inflows recorded by nine spot Ethereum ETFs during the same period. period.

The interesting scenario comes as Bitcoin has seen a 2.7% decline in its price in the last 7 days compared to a 5.3% Ether price increase in the same period.

Depending on how trading unfolds on November 29, US Ether funds could outpace spot Bitcoin ETFs in weekly net inflows for the first time.

Market commentator Nate Geraci noted in his

BTC ETFs, in particular, recorded the week of highest inflows from November 18-22, with ETFs receiving $3.38 billion in inflows, pushing Bitcoin towards its all-time high of $99,645 towards the end of last week.

Meanwhile, the recent surge in inflows into Ether ETFs is likely linked to Ethereum’s price rally, which may have been influenced by crypto privacy mixer Tornado Cash’s partial victory in the US courts.

Additionally, investor interest in Ethereum may have increased following reports that former SEC commissioner and crypto advocate Paul Atkins is now the leading candidate to replace Gary Gensler as SEC Chairman. This development has raised expectations for a more favorable regulatory environment for the DeFi space under the US administration led by Donald Trump.

At the time of writing, Bitcoin (BTC) changed hands at $96,279, up 0.6% in the last 24 hours, while Ethereum (ETH) was trading at $3,570 per token, down 0.9%.