Investor Panic, ETH Down 8%—But Bitcoin ETF Sets New Record!

The spot Ethereum ETF in the US finally halted its longest inflow streak on Friday, recording a net outflow of $2.2 million after 19 consecutive days of positive inflows. This decline was triggered by rising geopolitical tensions between Israel and Iran that shook risky asset markets, including crypto. Although the Grayscale Ethereum Mini Trust (ETH) recorded an inflow of $6.7 million, it couldn't offset the outflow of $8.9 million from the Fidelity Ethereum Fund (FETH). Since its inception on May 16, this inflow streak shows a surge in institutional interest in ETH, with the total net asset value of the spot ETH ETF now exceeding $10 billion—the highest since its launch in July 2024. One of the main drivers is SharpLink Gaming, which purchased $463 million worth of ETH, making it the second-largest individual holder of ETH after the Ethereum Foundation.

Meanwhile, the Bitcoin ETF set a new record with a daily inflow of $301.6 million despite the BTC price falling 2% in the last 48 hours. The BlackRock IBIT fund led with $239 million in inflows, followed by Fidelity FBTC with $25.2 million. The total cumulative inflow of the spot BTC ETF has now surpassed $45.6 billion. This condition indicates that despite increased volatility due to global conflicts, the appeal of crypto as part of diversification and hedging strategies remains strong in the eyes of large investors.$BTC $ETH