Crypto
Bitcoin ETFs Bleed $265M as Ethereum Inflows Hinge on BlackRock's ETHB
The Bitcoin ETF market suffered significant losses on July 31, with U.S. spot Bitcoin funds posting net outflows of $265.4 million.
This comes after a prior session saw an inflow of $233.1 million into these same funds. BlackRock's ETHB drew $15.4 million in inflows, however, which lifted Ether ETFs to a $9 million net gain despite losses elsewhere.
The broader market was also lower, with Bitcoin down 2.09% over 24 hours and Ethereum at $1,868, down 1.09%. ETHB's 1.67% staking rewards rate adds context to the concentrated inflow seen in BlackRock's staked Ethereum fund.