Ether Funds Outpace Bitcoin as Institutional Demand Remains Selective
Institutional crypto demand opened the week on an uneven footing, with ether funds finding fresh buyers while bitcoin exchange-traded funds (ETFs) remained under pressure. This marks a third consecutive day of withdrawals for bitcoin ETFs, which recorded $11.64 million in net outflows on Monday, July 27.
Blackrock's ETHA led ether ETFs to $9.23 million in inflows as bitcoin lost ground. The contrast reflects the selective nature of institutional demand, with investors showing a greater willingness to allocate toward ether when conditions allow. Giselle Lai, Director, Digital Assets Strategist at Fidelity International, noted that bitcoin is often the first stop for institutions entering the crypto market.
Solana and XRP products also posted modest gains, but HYPE ETFs continued to lose capital, with $2.89 million in net outflows extending a difficult run that has followed its strong launch period. Institutional capital remains present in the market, albeit more selective in favoring ether and measured altcoin exposure.