Bitcoin ETF saw a daily inflow of 179 million USD, surpassing Ethereum! What market signal does this reversal release for the first time in eight days?

Ethereum, which has been leading ETF fund inflows for eight consecutive days, has finally been surpassed by Bitcoin. Data from August 28 shows that the Bitcoin ETF received a net inflow of $179 million, far exceeding the $39.2 million for the Ethereum ETF. This round of capital rotation coincides with an overall pullback in the Crypto Assets market, with BTC currently reported at $113,200 (down 3% in 24 hours) and ETH at $4,333 (down 13% from its historical high), prompting high market attention on institutional capital allocation strategy changes.

1. Single-day capital flow reversal, Bitcoin regains institutional favor.

According to the latest monitoring data from SoSoValue, on August 28, there was a significant shift in capital flow in the US spot ETF market: Bitcoin ETF had a total net inflow of $179 million, while Ethereum ETF only received $39.2 million in funding. This marks the first time since August 21 that Bitcoin ETF has surpassed Ethereum in terms of single-day capital inflow. Specifically, Ark 21Shares' ARKB led with an inflow of $80 million, BlackRock's IBIT followed closely with $63.7 million, and Bitwise's BITB recorded a net subscription of $25 million.

2. Ethereum ETF capital centralization, Grayscale and BlackRock hold the fort.

There is a divergence in the capital flow regarding Ethereum ETFs: BlackRock's ETHA attracted $67.6 million in a single day, Grayscale's ETHE received a net inflow of $6.3 million, while Fidelity and Bitwise's products collectively faced $34.7 million in redemptions. The remaining seven ETFs saw no capital movement. Although Ethereum saw a cumulative inflow of $1.83 billion from August 21 to 27 (compared to only $171 million for Bitcoin during the same period), and the monthly total inflow reached $3.4 billion (with Bitcoin experiencing a net outflow of $624 million), the recent single-day data reversal may indicate a shift in short-term capital preferences.

3. Price pullbacks trigger allocation adjustments, and the gap in asset scale remains significant.

The changes in capital flow are closely related to price trends. Bitcoin's current price of $113,200 has fallen 9% from its historical high of $124,128 in mid-August, and it once dipped to the support level of $109,000 this week; Ethereum has been in a continuous pullback since reaching its historical high of $4,953 on August 24, with its current price down 13% from the peak, and a single-day fall of 5.6%. In terms of total ETF assets, the Bitcoin ETF leads with a net asset of $145 billion, while the Ethereum ETF's scale gap of only $29.5 billion still cannot shake Bitcoin's dominant position.

[Conclusion] The reversal of capital flow in this round is not only a manifestation of the market's natural adjustment but also reflects the rebalancing needs of institutional investors at different valuation levels. If Bitcoin can continue to maintain its advantage in capital inflow, it may solidify its narrative as digital gold; for Ethereum, whether it can regain the favor of capital through ecological innovation will be a key observation point for the second half of the year. Investors are advised to closely follow the continuity of ETF capital flow, the effectiveness of support levels for spot prices, and the impact of macro policies on institutional allocation preferences.