On March 12, 2026, Ethereum spot ETFs saw higher inflows than Bitcoin, attracting increased attention from institutional investors. On that day, Ethereum funds recorded a net inflow of $72.4 million, surpassing Bitcoin's $53.8 million, while Solana ETFs also saw an increase of $3.9 million. The simultaneous rise of the three major U.S. cryptocurrency spot ETFs is a rare occurrence that may signal a shift in deeper market trends.
Institutional Investors Unfazed by “Extreme Fear”
According to data from Alternative.me, the Crypto Fear & Greed Index stood at 15 on March 13, indicating that the market was in a state of “Extreme Fear.”
Ethereum Outpaces Bitcoin: An Unusual Signal
Notably, Ethereum surpassing Bitcoin in daily ETF inflows is not a common occurrence. Since the launch of U.S. spot ETFs, Bitcoin has dominated institutional inflows almost daily, being the preferred choice for institutional capital. Ethereum's performance this time breaks this norm.
Solana: A Force to Be Reckoned With
Despite the relatively small inflows into Solana, it also reflects institutional investors' interest in the asset.
Significance of Simultaneous Rise of Three Major ETFs
It is rare for BTC, ETH, and SOL ETFs to experience simultaneous positive inflows on the same day. This indicates that on March 12, institutional capital was not rotating between different assets but was simultaneously flowing into these three assets. This contrasts sharply with the “Extreme Fear” indicated by retail investor sentiment indicators.
On one of the most panic-stricken trading days of the year, institutional investors simultaneously bought three major cryptocurrency ETFs, raising the question: have institutions been quietly profiting from retail investors' panic all along?