Bitcoin ETFs Surge as BlackRock Leads Charge, But Ethereum Still Ahead

Bitcoin ETFs recorded significant inflows on July 29, according to data from SoSoValue and Farside. The BlackRock Bitcoin ETF alone accounted for $89.83 million in inflows, making it a major contributor to the overall positive net balance of $32.1 million.

This is a reversal of the previous trend, as four consecutive sessions of outflows totaling over $500 million had left investors concerned about the market's direction.

However, Ethereum ETFs experienced significant withdrawals, with $18.65 million in one day. This contrasts with Bitcoin's strong performance, but Ethereum still maintains an advantage overall for the month of July, having attracted $342.9 million in net inflows since the beginning of the month.