Spot Bitcoin ETF leads to $ 332m flowing while Ethereum funds are bleeding

The spot bitcoin exchange-traded funds (ETF) recorded $ 332.7 million in net inflows on Tuesday, which exceeded their Ethereum counterparts, who saw $ 135.3 million in net outflows, according to data from Sosovalue.

Fidelity’s FBTC led the SurgeAttracting $ 132.7 million, followed by blackrock with $ 72.8 million. Additional flows have been reported to other major gives, including Grayscale, Ark 21shares, Bitwise, Vaneck and Invesco.

Ether (Eth) ETFs post. Fidelity’s Feth provides most of the bleeding, which loses $ 99.2 million, while Bitwise’s ethw poured $ 24.2 million. The Ether ETFS also saw $ 164 million in the streams on Friday.

The upside down comes after a Strong August for Ethereum fundswho saw $ 3.87 billion in flow versus bitcoin (Btc) $ 751 million ETF flow.

Related: How high is the price of bitcoin while the gold record records a high over $ 3.5k?

Bitcoin’s “Digital Gold” narrative gets a momentum

The revised climb to the Bitcoin ETF area came while Bitcoin’s “Digital Gold” narrative produces a comeback. “Bitcoin is once again attracting institutional flows as the digital gold narrative has again gained traction,” Vincent Liu, the chief investment official in Kronos Research, told Cointelegraph.

“In gold at all times high, the appetite of hard assets clearly strengthens. In this environment of uncertainty of MacRO, the BTC stands against the ETH, which seems to be entering a time of income extraction,” he added.

Liu said this trend could continue as long as global markets remain trembling, with investors favored by Bitcoin for detected stability and safe appeal.

Related: Uptick to bitcoin spot trading hints on possible breakout at $ 119k

Crypto funds bounced with $ 2.48 billion in weekly flow

As reported, crypto investment products revealed last week, The pulling of $ 2.48 billion to net inflows after $ 1.4 billion last week’s flow.