In the context of recent fluctuations and adjustments in the digital asset market, the flow of institutional funds has shown subtle yet profound changes. According to inflow statistics, two spot ETF products under BlackRock have exhibited significant divergence over the past two weeks: Bitcoin ETFs faced net fund outflows, while Ethereum$ETH continuously attracted funds.

📉 Bitcoin ETFs continuously bleeding, institutional funds becoming cautious

From late May to early June, BlackRock's Bitcoin spot ETF (IBIT) experienced consecutive days of net fund outflows, totaling over hundreds of millions of dollars. This phenomenon reflects that after several months of rapid increases, some institutional investors began to reassess the short-term valuation and return risks of Bitcoin.

📈 Ethereum ETFs strongly attracting funds, with over 500 million dollars inflow in ten days

In stark contrast, the Ethereum spot ETF saw net inflows exceeding 500 million dollars during the same period, with positive inflows for ten consecutive days. Although this product has not fully launched for trading, market expectations and strategically allocated funds have already entered early, indicating investors' high attention to Ethereum's mid-term potential.

🔎 Underlying Logic: From Valuation to Structural Opportunities

1. Valuation Reassessment: Compared to Bitcoin, Ethereum currently has a relatively low valuation, making it more attractive for mid-term allocation for institutional funds.

2. Ecological Support: As the core infrastructure for smart contracts and DeFi, Ethereum's technological development, upgrades (such as Layer 2), and on-chain application support are continuously expanding, providing fundamental support for its value.

ETF market rotation: The strategic allocation of funds to new ETF products has also driven short-term liquidity trends, especially as interest in Bitcoin ETFs cools down.

🧭 Key Observations for Investors: Differentiation, Rotation, and Structural Layout

Current changes in fund flows may be seen as an early signal of the market entering a rotation phase. As enthusiasm in the Bitcoin market gradually wanes, funds are beginning to reassess the value and potential of other mainstream assets, especially those like Ethereum that have a foundation for technological upgrades and application expansions.

This also reminds investors that in the highly volatile crypto market, fund flows not only reflect short-term price fluctuations but also reveal the market's re-evaluation of risk and growth.

The landscape of digital assets is changing, with funds shifting from Bitcoin ETFs to Ethereum ETFs. This may not just be a short-term flow of funds, but a structural signal in the development process of the digital asset market. For medium to long-term investors, this is a turning point worth closely monitoring.#科技巨头入场稳定币 $ETH