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Ethereum ETFs remained completely stagnant, while spot Bitcoin ETFs saw a solid net inflow of $108 million led by BlackRock's IBIT ETF with $80.96 million. Despite the fluctuations on the market, all nine spot Ethereum ETFs reported zero net flows, indicating a lack of investor confidence or engagement. There is no more pronounced difference between the activity of Ethereum ETFs and Bitcoin ETFs.
Even though the market is starting to recover, Ethereum is still being overlooked because companies like Fidelity VanEck and Grayscale are witnessing ongoing capital movement in Bitcoin-related products. Even though Ethereum has been the second-largest cryptocurrency for a long time, this stagnation shows that the asset's story is currently not very compelling to institutions.
According to Ethereum's price chart, the state of affairs mirrors the ETF's lack of activity. In an effort to create temporary stability close to the $1,580 region, ETH is still trading in a tight descending wedge. Nevertheless it has not demonstrated any noteworthy breakout potential. The asset's continued strong bearish trend is demonstrated by the fact that it is still well below the 50, 100 and 200 EMA levels ($1,800, $2,267 and $2,568, respectively).
Godfrey BenjaminAdditionally volume has been gradually declining, indicating that institutional and retail participants are not as interested or motivated. The RSI shows that ETH is still hovering close to oversold territory without producing a real reversal signal, and the weak bullish attempts are routinely rejected.
As Bitcoin absorbs all the capital attention, Ethereum is essentially stagnating due to zero flows into ETH ETFs and no discernible buying pressure on the spot market. ETH might keep falling behind unless there is a significant fundamental catalyst that materializes soon, such as the approval of ETF staking or a favorable regulatory change.
Vladislav Sopov
Dan Burgin