Ether Funds Outpace Bitcoin as Institutional Demand Shifts
Institutional crypto demand opened the week on an uneven footing, as ether funds attracted fresh buyers and bitcoin exchange-traded funds (ETFs) remained under pressure. Blackrock's ETHA led the charge for ether ETFs, pulling in $11.75 million on July 27, while bitcoin ETFs recorded a third consecutive day of withdrawals, with $11.64 million in net outflows.
The contrast reflected the selective nature of institutional demand, with investors showing a greater willingness to allocate toward ether when conditions allow. According to Giselle Lai, Director, Digital Assets Strategist at Fidelity International, bitcoin is often the first stop for institutions entering the crypto market, but ETFs are lowering the barrier to entry and helping large investors make more informed allocation decisions.
Solana and XRP products also posted modest gains, with Solana ETFs attracting $1.03 million and XRP ETFs adding $592,470. However, HYPE ETFs remained the weakest part of the market, recording a net outflow of $2.89 million and testing whether its $279.22 million asset base can stabilize after launch.
Total trading value reached $1.34 billion, while combined net assets closed at $78.71 billion. The figures showed that institutional capital has not disappeared, but rather become more selective in favoring ether and measured altcoin exposure while bitcoin and HYPE funds work through renewed selling pressure.