BlackRock Ethereum (ETH) ETF Sees $11.75 Million Inflow... Surpasses Bitcoin (BTC)

▲ BlackRock, Bitcoin (BTC), Ethereum (ETH)/AI-generated image

With $11.75 million flowing into BlackRock's ETHA, the Ethereum spot ETF has once again surpassed the Bitcoin spot ETF.

According to crypto media outlet Bitcoin.com on July 28 (local time), the US Ethereum (Ethereum, ETH) spot ETF recorded a net inflow of $9.23 million on the 27th. On the same day, $11.64 million flowed out of Bitcoin (Bitcoin, BTC) spot ETFs. Net outflows from Bitcoin spot ETFs continued for three consecutive trading days.

Among Bitcoin spot ETFs, only two products experienced fund movements. BlackRock's IBIT saw an outflow of $8.82 million. Fidelity's FBTC also recorded a net outflow of $2.82 million. No Bitcoin spot ETFs attracted new funds. The total trading volume was $1.34 billion, and net assets were tallied at $78.71 billion.

Ethereum spot ETFs showed the opposite trend. $11.75 million flowed into BlackRock's ETHA. Invesco's QETH saw an outflow of $2.52 million. The total trading volume was $775.34 million, and net assets reached $10.65 billion.

Giselle Lai, Head of Digital Asset Strategy at Fidelity International, stated, “Bitcoin is often the first investment for institutions entering the cryptocurrency market.” She added that ETFs lower entry barriers and help large investors with asset allocation decisions.

$1.03 million flowed into Solana (Solana, SOL) spot ETFs. Most of the funds went to Bitwise's BSOL. XRP (XRP) spot ETFs also recorded a net inflow of $592,470. All of the inflow went into Franklin Templeton's XRPZ. The net assets of Solana spot ETFs and XRP spot ETFs were tallied at $889.31 million and approximately $1 billion, respectively.

$2.89 million flowed out of HYPE spot ETFs. $2.24 million exited Bitwise's BHYP, and approximately $658,940 flowed out of 21Shares' THYP. The total trading volume for HYPE spot ETFs was $12.82 million, and net assets decreased to $279.22 million.

[Article Key Summary]

-With $11.75 million flowing into BlackRock's ETHA, the Ethereum spot ETF recorded a net inflow of $9.23 million.

-Bitcoin spot ETFs saw $11.64 million flow out, continuing net outflows for three consecutive trading days.

-Funds flowed into Solana and XRP spot ETFs, but $2.89 million flowed out of HYPE spot ETFs.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*