Bitcoin ETF continues to attract US$3.1 billion in capital inflows, and Ethereum Fund flows are nega

Spot Bitcoin ETF has attracted funds for nine consecutive days, with a net inflow of US$3.1 billion.

Spot Bitcoin exchange-traded funds (ETFs) have attracted new funds for nine consecutive trading days. The cumulative net inflow brought by this momentum is approximately US$3.1 billion. At the same time, spot Ethereum and Zcash products showed opposite capital flows, highlighting the uneven rotation of cryptocurrency ETF funds among different assets.

According to SoSoValue, the U.S. spot Bitcoin ETF attracted $66.2 million in new funds on Tuesday. After taking into account previous inflow trends, the funds brought the winning streak's total net inflow to approximately $3.1 billion. Year-to-date, the cumulative net inflow of Bitcoin ETFs has reached nearly US$1 billion.

Core Points

• The U.S. spot Bitcoin ETF recorded a net inflow of US$66.2 million on Tuesday, extending the net inflow winning streak to nine trading days.
• SoSoValue data shows that the total amount of this winning streak is approximately US$3.1 billion, of which year-to-date net inflows are approximately US$1 billion.
• The U.S. spot Ethereum ETF ended a seven-day winning streak of net inflows on Tuesday, recording a net outflow of approximately US$3 million.
• The Zcash ETF also ended a six-day winning streak of net inflows after recording a net outflow of approximately US$8 million on Monday.
• Market sentiment cooled slightly: Alternative.me Crypto Fear and Greed Index fell to 71 (in the "greedy" range).

Bitcoin ETF funds continue to flow in, but gains encounter resistance

现货比特币ETF中资金流的持续性表明，尽管更广泛的市场条件显示出暂停迹象，机构和个人投资者的需求依然稳定。SoSoValue的数据将比特币的ETF表现明确归类为“风险偏好”阵营：当前的连胜纪录每天都在累积新的净流入额。

据CoinGecko数据，截至文章发布时，比特币价格约为83,567美元，较前24小时下跌0.4%。虽然跌幅 modest，但这印证了上行动能可能难以维持的观点——特别是对于近期因监管准入兴趣 renewed 而受益的资产而言。

Capital.com的高级金融市场分析师Kyle Rodda向Cointelegraph表示，原油价格上涨对无收益资产构成压力，导致比特币涨势暂停。Rodda还指出，随着能源价格风险的持续，即使技术前景保持“相当积极”，比特币也可能难以重拾上行动能。

以太坊ETF资金流逆转，此前曾表现强劲

并非所有加密货币ETF产品都复制了比特币的强势表现。根据SoSoValue的数据，美国现货以太坊ETF在周二结束了七日的净流入连胜，录得约300万美元的净流出。

Despite the reversal, the larger context is still worthy of attention. Data from SoValue shows that the Ethereum ETF has attracted more than $851 million in funds in the past seven trading days, raising cumulative net inflows to approximately $14 billion. The key signal for investors is not that demand for Ethereum has disappeared, but that the market's willingness to increase ETH exposure has become more cautious and selective than BTC.

This cross-product divergence is crucial for traders and asset allocators because it often reflects where capital expectations find the strongest relative momentum. While Bitcoin continues to attract inflows while Ethereum cools, this suggests that investors prioritize BTC's role as the "core" part of their crypto portfolio at least in the short term.

Zcash ETF interrupted the inflow trend and significantly diverted funds

Spot Zcash ETF also broke the recent pattern. Earlier this week, the Zcash ETF ended a six-day winning streak of net inflows after recording a net outflow of about $8 million on Monday, SoSoValue reported.

Although Zcash is smaller in the cryptocurrency ETF landscape than Bitcoin and Ethereum, this shift still highlights a broader theme: capital inflows are not migrating evenly across the entire altcoin community. Instead, they appear to be temporarily concentrated around Bitcoin, while some of the alternative assets undergo a correction.

Macroeconomic pressure appears, market sentiment softens

In addition to ETF capital flows, sentiment in the crypto market has also cooled moderately. Alternative.me's Crypto Fear and Greed Index dropped to 71 points from 73 points the previous day, still in the "greedy" range.

This background helps explain why ETF inflows alone may not directly translate into sustained accelerating gains. If macro variables are putting pressure on non-yielding assets-as Rodda's argument about crude oil prices suggests-then even stable ETF demand may be competing against headwinds created by broader risk appetite and cost of holding considerations.

For market participants, the combination of stable Bitcoin ETF inflows and weakness serves as an early warning sign: demand may still be there, but the market may need a clearer catalyst to translate this inflow momentum into stronger spot price follow-up.

Investors should pay close attention to whether Ethereum and Zcash continue to see outflow days or rebound quickly after the winning streak ends. At the same time, Bitcoin ETF capital flows will also be closely monitored to see whether this ninth day of winning streak will continue into a longer cycle, or whether macro pressures begin to manifest themselves through changes in net subscriptions in the broader ETF portfolio.