Ethereum ETFs drew $370M in weekly inflows as ETH/BTC broke key resistance, pulling investor focus away from Bitcoin ETFs.
BlackRock led ETH accumulation with 97 K+ ETH added, while Bitcoin ETFs saw $357M in outflows, signaling shifting sentiment.
OTC desks moved over $280M in ETH to a single wallet, reinforcing growing institutional appetite for Ethereum exposure.
Ethereum spot ETFs recorded a combined $370 million in net inflows over the past seven days, signaling renewed institutional confidence amid a pivotal ETH/BTC technical breakout. Meanwhile, Bitcoin ETFs faced $357 million in weekly outflows, with BlackRock and Grayscale among the largest contributors to capital movement.
Capital Rotation Favors Ethereum Over Bitcoin
Ethereum-based funds saw a daily net inflow of 30,649 ETH, or $108.47 million, while weekly inflows totaled 141,138 ETH, according to Lookonchain. “iShares (BlackRock) led the ETH surge with 19,069 ETH inflow on the day and 97,464 ETH over the week,” stated the update, pushing its total holdings to 1.43 million ETH valued at $3.77 billion.
https://twitter.com/lookonchain/status/1929908305595641936
The trend sharply contrasts with outflows across the ten active U.S. Bitcoin ETFs, which shed 2,858 BTC, or $301.56 million, on June 3 alone. BlackRock’s IBIT recorded a 1,250 BTC daily outflow but maintained a weekly inflow of 4,022 BTC, reflecting mixed investor sentiment. Grayscale’s GBTC and ARK 21Shares' ARKB saw 7-day outflows of 2,158 BTC and 3,366 BTC, respectively, hinting at broader distribution phases.
Bullish ETH/BTC Reversal Reshapes Sentiment
Ethereum’s breakout from a multi-year downtrend against Bitcoin has redefined its risk profile among institutional investors. The ETH/BTC monthly chart broke above a descending arc pattern that persisted since 2021, with a bullish engulfing candle piercing resistance near 0.080 BTC per ETH. This signals either a significant breakthrough or perhaps a sign that broader changes may be on the horizon.
While his take on the matter has been debated, it does seem that some analysts are aligning with similar perspectives. The ETH/BTC pair is showing a “macro higher low with hidden bullish divergence,” stated market analysts on X, citing RSI strength and a confirmed break of a six-month flag. Now, analysts set their sights on trends that indicate the market is preparing to hit much higher benchmarks.
OTC Accumulation Amplifies Institutional Demand
Galaxy Digital’s OTC desk reportedly withdrew 89,000 ETH worth $233.5 million before transferring 108,278 ETH, valued at $283 million, to a single wallet. The address, identified as 0x0b26, now holds 139,476 ETH or roughly $365 million, reinforcing the shift in high-value investor focus toward Ethereum. The post confirms how activity continues flowing, signaling long-term stability for some sectors.
Not to mention how the crypto community is witnessing what could be a transformative period. Lennaert Snyder noted that ETH is outperforming BTC by 15% in Q2, calling it an “Altseason whisper,” while ETH’s quarterly history shows volatility yet resilience. Thus, although it might be too early to predict exact outcomes, many are holding and patiently waiting for positive results.
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