Crypto
Bitcoin ETFs Bleed $265M as Ethereum Funds See Concentrated Inflow
Bitcoin's U.S. spot ETFs suffered significant losses on July 31, with net outflows of $265.4 million. This comes after a $233.1 million inflow the previous session.
BlackRock's ETHB fund drew $15.4 million, contributing to a $9 million net inflow for Ethereum funds overall. However, this gain was concentrated in one product and does not confirm broader rotation towards Ethereum.
Ethereum funds would have posted net outflows without the influx of funds into BlackRock's staked Ethereum fund.
The five trading sessions from July 24 to July 30 show little evidence of a persistent shift towards Ethereum, with Bitcoin funds losing $36.2 million and Ethereum funds losing $69.7 million.