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Spot ether ETFs draw $103.8M, tripling spot bitcoin inflows
In the same week, BlackRock’s iShares Ethereum Trust (ETHA) added $96.3M while the iShares Bitcoin Trust (IBIT) posted a $95.5M net outflow, with back to back withdrawals of $202.5M and $212.2M.
Spot ether ETFs collected $103.8 million in the week ended July 24, about triple the $33.9 million that flowed into spot bitcoin funds, according to Farside Investors data cited by The Defiant.
The second straight week favored ether over bitcoin, a rotation that began when both categories ended eight week outflow streaks earlier this month. The gap was driven by BlackRock, with its iShares Ethereum Trust (ETHA) taking in $96.3 million over five sessions while the iShares Bitcoin Trust (IBIT) saw $95.5 million of net outflows.
The Defiant reports that IBIT’s outflows included two consecutive withdrawals of $202.5 million and $212.2 million on Thursday and Friday, after bitcoin funds started the week with $226.8 million on Monday and $203.2 million on Tuesday before reversing into the weekend.
Ether flows were steadier across the week, then ended with a $70.7 million outflow on Friday that trimmed the weekly total, leaving both funds rotating on weaker price momentum. ETH was quoted at $1,936, up 1.1% over 24 hours and about 2% on the week, while bitcoin traded around $64,780 with little change over 24 hours, per CoinGecko data referenced by The Defiant.
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