US spot Bitcoin ETFs recorded a net outflow of 1,132 BTC, worth roughly $72.24 million, on August 13, while spot Ethereum ETFs pulled in a net inflow of 3,947 ETH, or about $7.47 million, on the same day, according to on-chain fund flow tracking. Over the trailing seven days, Bitcoin funds shed a net 202 BTC ($12.89 million) while Ethereum funds gained 65,941 ETH ($124.71 million), extending a divergence between the two products that has held for much of August.
The pattern isn't new this month. Bitcoin ETFs posted their strongest weekly inflows since mid-April in early August, pulling in $853.54 million over one stretch, but flows have since turned choppier — including a $61.16 million single-day outflow on August 12, led by $46.82 million in redemptions from Fidelity's FBTC. Ethereum ETFs, by contrast, have logged multiple consecutive days of inflows through the same period, including a four-day streak that added $49.60 million on its final day.
What's behind the split
The divergence comes as institutional allocators appear to be rotating a portion of crypto ETF exposure toward Ethereum even as headline risk appetite stays elevated — US equities hit fresh records this week on cooling inflation data. Bitcoin's own price action has stayed comparatively flat near $63,500 through the same stretch, muting the urgency for fresh ETF buying even as stock markets rallied.
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Whether the split reflects a durable reallocation toward Ethereum or simply short-term positioning ahead of the September Fed meeting remains unclear. A sustained reversal — renewed Bitcoin inflows alongside continued Ethereum strength — would suggest broader risk appetite returning to crypto ETFs generally, rather than a rotation between the two.
