BlackRock’s Ethereum ETF Inflow Surpasses Bitcoin ETF

By: Isha Das

Introduction

Recent data has indicated a notable shift in the Ethereum and Bitcoin ETF markets, with BlackRock’s Ethereum ETF achieving significant inflows, overshadowing its Bitcoin counterpart. This trend has surfaced amidst fluctuating ETF flows and notable market movements.

Bitcoin ETF Outflows

The Bitcoin ETF market saw a substantial $18.3 million outflow on July 30, the first since July 23. This outflow occurred across three of the four largest ETF issuers: Bitwise's BITB, ARK's ARKB, and Fidelity's FBTC. Notably, BlackRock's IBIT ETF stood apart as the only Bitcoin ETF to record inflows for the second consecutive trading day, adding $74.9 million and propelling its total net inflow past the $20 billion mark. Despite these fluctuations, total Bitcoin ETF inflows reached $17.7 billion.

Ethereum ETF Surge

The Ethereum ETF market, in contrast, recorded a net inflow of $33.7 million on July 30, marking the first such inflow since July 23. Grayscale's ETHE experienced its smallest outflow at $120.3 million, while BlackRock’s ETHA recorded its largest inflow since July 23, with $118 million. This surge in BlackRock’s ETHA inflows has brought the total net outflows for Ethereum ETFs to $406.4 million, significantly surpassing the inflows in its Bitcoin ETF, IBIT.

Overall Market Trends

This data illustrates a broader trend within the ETF markets, indicating a growing investor preference for Ethereum over Bitcoin in the current landscape. The figures highlight a critical shift and pave the way for potential strategic adjustments among investors and ETF issuers.