Ethereum Loses Ground To Bitcoin In The ETF Battle

It is often heard that Ethereum enthusiasts prefer its ETFs over traditional Bitcoin trackers. More flexible, more promising in DeFi, more “techy,” they said. But these good ideas are faltering. Because while Bitcoin funds are bouncing back, those linked to Ether are stagnant. And it’s not just a coffee break.

When Bitcoin steals the show, Ethereum remains behind the scenes

On April 17, the Bitcoin ETFs put on a splendid show for the markets. In one day, they recorded 107 million dollars in net inflows. BlackRock and Fidelity, as usual, are leading the dance with respectively 81 and 25.9 million $ in new capital. A true rejuvenation for a product that the day before still showed 171 million dollars of outflows.

On the other hand, Ethereum ETFs did not move at all. No inflows, no outflows. Nada. A total apathy that contrasts sharply with the momentum of their BTC cousins. Farside Investors and SoSoValue confirm:

Ethereum ETFs showed a rare day of neutrality.

The previous week, these same funds recorded 32 million $ in net losses. Over the month, it rises to 171 million $. Even the most patient are beginning to raise one eyebrow. Or both.

Ethereum: a price curve flirting with resignation

On the chart side, it’s no more reassuring. The ETH crypto is stuck between two resistance zones: 1,540 and 1,630 dollars. Trapped like a slice of bacon between two toasts. The RSI, meanwhile, is stagnating near the oversold zone. The bullish attempts? Rejected as quickly as a badly targeted spam.

As @ali_charts points out on X:

Ethereum $ETH is currently trading between two major supply zones: $1,540 and $1,630. A break of either zone could define the next move.

But for now, the bears seem to have set up camp for the long haul.

ETH is indeed trading below the 50, 100, and 200-day moving averages. Volumes are falling, and buyers are not rushing in. Even bargain hunters are avoiding the aisle.

The shadow of Bitcoin looms over Ethereum ETFs

Institutional players no longer want to take risks. When the sea is rough, they prefer the flagship vessel: bitcoin. It’s not for lack of trying: Ethereum ETFs had attracted more than 3 billion $ by the end of 2024. But the drop below 2,000 $ in March changed everything. Since then, redemptions have followed one another. And managers have closed the taps.

The reality is harsh: bitcoin concentrates hopes. BlackRock’s IBIT, for example, now shows 48.6 billion $ in assets under management. That represents nearly 3% of BTC’s market capitalization. Meanwhile, products linked to Ether are languishing in indifference.

The reasons are multiple: a less inspiring narrative, a decline in DeFi yields, and no exciting announcements from regulators. Without a catalyst, funds stay on the sidelines. And the comparison with Bitcoin becomes heavy.

Of course, Ethereum ETFs look gloomy. But ups and downs are part of the DNA of these financial products. Just last week, spot Bitcoin ETFs lost 713 million dollars. Proof that everything can change very quickly. The question remains whether Ethereum will emerge from its slumber with a sharp awakening… or a prolonged yawn.