The digital asset investment space took a sharp turn as spot Bitcoin ETFs recorded their second-largest daily outflow, while Ether ETFs broke a historic 20-day inflow streak, marking a shift in sentiment among institutional investors.
Bitcoin ETF Outflows Hit $812 Million
On Friday, spot Bitcoin exchange-traded funds saw a net outflow of $812.25 million, erasing a full week of inflows. This marks the second-largest single-day loss since Bitcoin ETFs launched. The movement dragged total cumulative net inflows down to $54.18 billion, while assets under management dropped to $146.48 billion, accounting for 6.46% of Bitcoin’s total market cap.
Fidelity’s FBTC led the exodus with $331.42 million in redemptions, closely followed by ARK’s ARKB, which saw a $327.93 million pullback. Grayscale’s GBTC also posted a significant loss of $66.79 million. Notably, BlackRock’s IBIT remained relatively stable, with only a $2.58 million dip.
Despite the outflows, trading volume remained strong, hitting $6.13 billion, with IBIT alone contributing $4.54 billion, suggesting underlying interest remains intact.
Ether ETFs End Record Inflow Streak
At the same time, Ether ETFs experienced $152.26 million in outflows, effectively ending their longest-ever 20-day inflow streak. The pullback reduced total Ether ETF assets under management to $20.11 billion, or 4.7% of ETH’s total market cap.
Grayscale’s ETHE led the decline, shedding $47.68 million, while Bitwise’s ETHW followed with $40.30 million in outflows. Fidelity’s FETH saw a smaller pullback of $6.17 million. BlackRock’s ETHA remained unchanged, holding firm at $10.71 billion in AUM.
The streak was fueled by a surge in interest that peaked on July 16 with $726.74 million in inflows, followed by $602.02 million the next day.
Institutions Favor Ethereum Over Bitcoin
In a parallel trend, corporate accumulation of Ether is now twice that of Bitcoin, according to recent data. Firms have acquired approximately 1% of ETH’s circulating supply since early June, supported by a surge in spot ETF interest.
This divergence underscores a growing institutional shift toward Ethereum, potentially pushing ETH beyond $4,000 by year-end.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.