U.S. spot Ethereum ETFs recorded approximately $103.8 million in net inflows during the week of July 20 to July 24, exceeding the roughly $33.9 million attracted by spot Bitcoin funds. The result marked the second consecutive week in which Ethereum products received more net capital than their Bitcoin counterparts.
The divergence reflected a late-week reversal in Bitcoin flows rather than consistently weak demand throughout the period. Bitcoin ETFs collected $499.1 million between Monday and Wednesday before losing a combined $465.2 million during the final two sessions.
BlackRock Leads Ethereum’s Weekly Inflows
BlackRock’s ETHA generated approximately $96.3 million in net inflows across the five-day period, accounting for most of Ethereum’s positive weekly total. Fidelity’s FETH produced mixed daily activity, while several smaller funds recorded little or no movement.
Ethereum ETFs remained positive despite a $70.7 million industry-wide outflow on July 24. The earlier sessions had built enough momentum to preserve a net weekly gain, including $72.7 million on July 22 and $26.3 million on July 23.
BlackRock’s official fund page listed ETHA net assets at approximately $5.42 billion as of July 24, showing the product has developed substantial scale inside the regulated Ether market. The fund offers brokerage-account exposure to Ether without requiring investors to manage direct crypto custody.
Bitcoin’s Positive Week Masks Late Redemptions
Bitcoin ETFs finished the week positive only because strong early inflows offset sharp withdrawals from BlackRock’s IBIT and Fidelity’s FBTC. The products lost $225.1 million on July 23 and another $240.1 million on July 24.
IBIT alone recorded $414.7 million in net outflows across the final two trading sessions, erasing much of the capital it attracted earlier in the week. The fund still remains the dominant spot Bitcoin product by cumulative historical inflows, with approximately $60.4 billion recorded by Farside.
The weekly comparison points to a temporary rotation within regulated crypto exposure rather than a complete exit from Bitcoin. Both asset categories finished with positive net flows, but Ethereum maintained stronger accumulation as Bitcoin demand weakened toward the end of the week.
Ethereum ETFs have established a two-week lead over Bitcoin products in net capital formation. The next useful indicators will be whether ETH funds preserve that advantage, whether IBIT redemptions continue and whether the rotation remains visible after the current weekly window.