Bitcoin (BTC) Outflows, Ethereum (ETH) Inflows... Are Institutional Choices Shifting?

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

While 3,170 BTC flowed out of Bitcoin (Bitcoin, BTC) spot ETFs, 37,959 ETH flowed into Ethereum (Ethereum, ETH) spot ETFs.

According to cryptocurrency media outlet BeInCrypto on July 29 (local time), Bitcoin spot ETFs recorded a net outflow of $202.3 million over the past 7 days. During the same period, Ethereum spot ETFs saw a net inflow of $71.17 million.

BlackRock's iShares Bitcoin Trust (IBIT) saw 3,511 BTC exit. This figure is larger than the total net outflow from Bitcoin spot ETFs. Grayscale Bitcoin Trust and Bitwise's BITB also saw outflows of 10 BTC and 27 BTC, respectively.

Fidelity's FBTC received 109 BTC. ARK 21Shares' ARKB also added 77 BTC, partially offsetting the outflows. Bitcoin spot ETFs have only recovered 3.3% of the $8.2 billion that flowed out until mid-July.

Ethereum spot ETFs showed the opposite trend. BlackRock's ETHA absorbed 37,424 ETH, most of the total inflow. Grayscale's product also received 5,515 ETH, but Fidelity's FETH saw 4,980 ETH exit.

Ethereum spot ETFs maintained net inflows for three consecutive weeks until July 24. The net inflow for that week was $103.9 million, surpassing other cryptocurrency spot ETFs. Bitcoin spot ETFs hold $76.22 billion in assets, more than 7 times the $9.72 billion held by Ethereum spot ETFs.

[Article Summary]

-While 3,170 BTC flowed out of Bitcoin spot ETFs over the past 7 days, 37,959 ETH flowed into Ethereum spot ETFs.

-BlackRock's IBIT led Bitcoin outflows, while ETHA absorbed most of the Ethereum inflows.

-Ethereum spot ETFs recorded net inflows for three consecutive weeks until July 24, surpassing Bitcoin spot ETFs in new fund inflows.

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