The Bitcoin (BTC) Spot Exchange Traded Funds (ETFS) registered a net outflow of capital for the fourth day in a row yesterday. Data from Farside Investors shows that investors sold Netto $ 156 million to BTC ETF shares last Thursday.
At the same time, the nine Ethereum (ETH) funds attract capital. On February 13, net $ 12.8 million was invested in Ethereum ETFS.
The sale of Bitcoin funds ensures continuing pressure on the BTC course that still acts below the $ 100,000 limit.
Institutional interest in Ethereum is increasing
It is striking that Ethereum ETFS performs better in recent days than their Bitcoin counterparts. This suggests that institutional investors are getting more and more confidence in the Altcoin, possibly as a result of the growing expectations around the Ethereum market and the broader adoption of its technology.
The increasing interest in ETH may indicate that the Altcoin is preparing for a price repair, especially in relation to Bitcoin. The value of Ethereum has fallen sharply in recent years compared to BTC. Where ETH was worth 0.054 BTC a year ago, the current value is almost 50% lower at 0.028 BTC. If this trend of capital inflow persists, this could be a signal that Ethereum is starting an upward movement.
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Source: https://newsbit.nl/bitcoin-etfs-zien-4e-dag-van-uitstroom-terwijl-ethereum-etfs-kapitaal-aantrekken/
