Ether ETFs Pull $104M, Tripling Bitcoin's Weekly Inflows

Spot ether ETFs took in $103.8 million in the week ended July 24, roughly triple the $33.9 million that flowed into spot bitcoin funds, according to Farside Investors data. It is the second consecutive week ether products have out-raised bitcoin's, extending a rotation that began when both categories snapped eight-week outflow streaks earlier this month.

The gap came down to BlackRock. Its iShares Ethereum Trust (ETHA) absorbed $96.3 million over the five sessions, while the iShares Bitcoin Trust (IBIT) — the largest crypto ETF — posted a $95.5 million net outflow, including back-to-back withdrawals of $202.5 million and $212.2 million on Thursday and Friday, per Farside.

A front-loaded week

Bitcoin funds started stronger. They pulled in $226.8 million on Monday and $203.2 million on Tuesday before flows reversed hard into the weekend, leaving the category up just $33.9 million. Ether funds were steadier — $38 million, $37.5 million, $72.7 million, and $26.3 million across Monday through Thursday — before a $70.7 million outflow on Friday trimmed the weekly total.

The prior week showed the same order: ether funds added $105.5 million against bitcoin's $75.5 million. Bitcoin's weekly haul has now fallen 55% week-over-week even as ether's held flat.

Fidelity's ether fund FETH bucked the trend with a $6.2 million weekly outflow, meaning ETHA accounted for more than all of the category's net gain. On the bitcoin side, Fidelity's FBTC added $35.2 million for the week, partially offsetting IBIT's outflows.

Flows favor ETH as prices mark time

The rotation comes amid subdued prices. ETH trades at $1,936, up 1.1% in the past 24 hours and about 2% on the week, according to CoinGecko — still 61% below its August 2025 all-time high of $4,946, after sliding 35% in a month when ETF flows turned negative earlier this year. Bitcoin sits at $64,780, little changed over 24 hours.

Ether's relative bid has company beyond the ETF wrapper. BitMine Immersion, the largest corporate ETH treasury, added 104,512 ETH in the past 30 days and now holds 5.78 million ETH — 4.8% of supply — per CoinGecko treasury data. Whether ETF allocators keep favoring ether once bitcoin's outflows stabilize is the question the next few weekly prints will answer; for now, the marginal institutional dollar is picking ETH.