Ethereum Outperforms Bitcoin in Institutional ETF Flows

In July, spot Ethereum ETFs pulled in more than twice the capital that Bitcoin ETFs attracted, marking the first time institutional money has flowed into Ethereum at a higher rate than Bitcoin. This shift is significant because it suggests that investors are beginning to view Ethereum as infrastructure rather than an alternative to Bitcoin.

The data shows that spot Ethereum ETFs recorded $365 million in net inflows during July 2026, their strongest month since launching in July 2024. In contrast, spot Bitcoin ETFs attracted just $205 million, the lowest monthly total in the product's history.

The disparity follows a period of significant outflows from Bitcoin ETFs. In May and June, Bitcoin ETFs experienced net outflows of $2.43 billion and approximately $4.5 billion, respectively, with a cumulative damage of over $8 billion in redemptions. This marks the first negative half year for spot Bitcoin ETFs since their January 2024 debut.

The ETH/BTC trading ratio has risen from its 2026 low of approximately 0.024 in May to 0.030, a 25% recovery that coincides with the ETF flow reversal and growing institutional interest in Ethereum's staking yield and stablecoin settlement role.