Ether ETFs Shine as Bitcoin Suffers Fourth Straight Day of Outflows

The institutional crypto market saw a split in demand on Tuesday, July 28. Ether funds continued to attract fresh capital, while Bitcoin's streak of losses deepened and Solana suffered one of its weakest sessions yet.

Ether exchange-traded funds (ETFs) drew $14.53 million on Tuesday, building on Monday's gains. Blackrock's ETHB led the charge with a net inflow of $5.91 million. Morgan Stanley's MSSE, which allows for staking, pulled in $5.15 million, testing whether this feature can extend ether's two-day rebound.

Bitcoin ETFs, on the other hand, recorded their fourth straight day of outflows, with a net withdrawal of $49.75 million. Blackrock's IBIT posted a $54.83 million withdrawal, accounting for all of the category's gross outflows. Grayscale's Bitcoin Mini Trust partly offset this loss with a $5.08 million inflow.

Solana ETFs suffered an $18.07 million net outflow, their second-largest daily withdrawal since launch. HYPE funds posted a fourth straight day of withdrawals, while XRP products saw no net creations or redemptions.