Bitcoin ETFs Vs Ethereum ETFs: Why Does ETH Keep Underperforming?

CryptoQuant analyst Maartunn has flagged a notable divergence between Bitcoin BTC/USD and Ethereum ETH/USD ETFs, advising a cautious stance towards the latter.

What Happened: Maartunn took to X to highlight the difference in netflows between Bitcoin and Ethereum ETFs. Bitcoin ETFs have enjoyed initial investor interest, whereas Ethereum ETFs have experienced outflows and a lack of substantial inflows.

The analyst remarked, "Ethereum's price remains down 55% from its recent high and is still declining." He noted that without a significant price drop or large ETF inflows, he would avoid investing in Ethereum for now. His analysis suggests that the lack of inflows into the Ethereum ETF may contribute to ETH's ongoing price struggles.

Data: Coinglass / SoSoValue

Also Read: Ethereum Co-Founder Vitalik Buterin Says ‘Baptisms Of Fire’ In Cryptocurrency Will Catalyze Growth For Bitcoin And Other Digital Assets

Why It Matters: Amid ongoing price fluctuations, crypto chart analyst Ali Martinez used CryptoQuant data to show that over 300,000 ETH—worth approximately $750 million—has been withdrawn from crypto exchanges in the past week.

IntoTheBlock data shows large transaction volume decreasing by 27.2% and daily active addresses dipping by 15.4%. Transactions greater than $100,000 are up from 3,709 to 2,818 in a single day. Exchanges netflows are down by 123.2%.

SoSoValue data shows a total cumulative net outflow of $504.4 million out of spot Ethereum ETFs, compared to a total cumulative net inflow of $21.93 billion into Bitcoin ETFs.

What’s Next: The influence of Ethereum as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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