Bitcoin ETFs See $89.57M Inflows, Ethereum ETFs $5.89M Outflows

On March 26, the dynamics of Bitcoin and Ethereum ETFs diverged significantly. Bitcoin ETFs experienced inflows totaling $89.57 million, while Ethereum ETFs faced outflows amounting to $5.89 million. This disparity highlights the differing investor sentiments towards these two major cryptocurrencies.

BlackRock's IBIT fund was the standout performer, recording an inflow of $107.89 million. Conversely, Bitwise's BITB product saw an outflow of $18.32 million. Other ETFs did not report any significant movement of funds, indicating a more stable investor base for these products.

Ethereum ETFs, on the other hand, saw outflows of $3.21 million. Specifically, the ETH and FETH funds lost $4.9 million and $996,090 respectively, while other Ethereum ETFs did not experience any capital flows. This suggests a cautious approach from investors towards Ethereum-based ETFs.

Large holders, often referred to as "whales," have been actively accumulating Bitcoin. Since March 11, these investors have added over 129,000 BTC to their holdings, valued at approximately $11.2 billion. This accumulation trend is reflected in the Accumulation Trend Score, which stands at more than 0.5 for this group, indicating a strong buying sentiment.

In contrast, traders with smaller balances have been selling their crypto-assets, according to Glassnode experts. However, the overall market indicator value stands at 0.235 as of March 25, marking a new maximum since January 4. This suggests a broader shift in trend among Bitcoin holders, with more investors opting to accumulate rather than sell.

The trend of Bitcoin accumulation by large holders coincides with a decline in the supply share of Bitcoin on cryptocurrency exchanges. Since March 9, there has been a consistent decrease in the amount of Bitcoin held on exchanges, further supporting the notion of increased accumulation.

Other metrics also point to a change in trend. The share of Bitcoin addresses holding the cryptocurrency for a year or more has been increasing since the beginning of March, rising from 61.9% to 63.4% as of March 27. This long-term holding pattern indicates a growing confidence in Bitcoin's value and potential for future growth.