BlackRock’s U.S. spot cryptocurrency ETFs attracted more money into Ethereum than Bitcoin during the five trading days ending July 24, marking a rare shift in investor preference. According to data, the combined net inflow into BlackRock’s iShares Ethereum Trust funds, ETHA and ETHB, reached $99.2 million between July 20 and July 24.
In contrast, the iShares Bitcoin Trust (IBIT) experienced a net outflow of $95.5 million in the same period, despite earlier gains. This reversal highlights a growing divergence as Ethereum ETFs gained momentum in July, while Bitcoin ETFs faced volatility driven by profit-taking and changing investor sentiment.
Ethereum inflows were especially strong on July 20 22, with ETHA alone pulling in $34.3 million, $52.8 million, and $53.5 million respectively. Although the fund saw a $52.8 million outflow on July 24, it ended the week positive alongside ETHB’s $2.9 million inflow on July 23. Meanwhile, IBIT recorded significant inflows earlier in the week but then suffered heavy withdrawals on July 23 and 24, wiping out much of the previous gains.
The broader U.S. spot Bitcoin ETF market mirrored this trend, posting strong inflows early in the week before sizeable outflows erased those gains in the last two sessions. The largest spot Bitcoin ETF, IBIT, was chiefly responsible for the swings. This pullback came after Bitcoin ETFs had broken a long streak of heavy redemptions, showing a recovery that included a notable single-day inflow of $209 million for IBIT earlier in July.
Ethereum’s stronger performance in ETF flows correlates with rising institutional interest and increased tokenization activity. ETH’s price hovered around $1,860 during the week, buoyed by growing demand for Ethereum ETFs, while Bitcoin traded near $65,000 following a rebound from June’s lows. Parts of July even saw Ethereum outperform Bitcoin, fueled by these institutional inflows.
BlackRock maintains its position as the leading issuer for both spot Bitcoin and Ethereum ETFs, but this recent data indicates a potential shift in investor appetite favoring Ethereum. The trend aligns with a broader July recovery in Ethereum ETF demand.
