Bitcoin ETF Sees $11.6 Million Outflow as Ethereum ETF Attracts Inflows

The US spot Bitcoin ETFs closed on 27 July with a net outflow of $11.64 million. At the same time, spot Ethereum ETFs attracted money, registering a net inflow of $9.23 million. The data comes from data service SoSoValue.

Bitcoin is available at OKX and Bybit.

BlackRock sees the largest outflow among Bitcoin ETFs

Within the Bitcoin ETF market, BlackRock’s IBIT is the biggest outlier with an outflow of $8.82 million. That is the largest loss of all individual funds on that day. The total assets under management of all spot Bitcoin ETFs combined stand at $78.71 billion.

The Bitcoin price stands at $63.400 at the time of writing, a decline of 2.7% in the past 24 hours. There was already concern about weak demand for Bitcoin, and today’s outflow figures add further fuel to that.

Ethereum ETFs benefit from inflows

While Bitcoin shows outflows, the opposite is true for Ethereum. The spot Ethereum ETFs have been seeing inflows for some time and on 27 July that is also the case, with an inflow of $9.23 million. BlackRock’s Ethereum fund ETHA is the largest contributor with $11.75 million in inflows.

BlackRock is the world’s largest asset manager and manages as much as $15.3 trillion in assets as of the end of June. The company’s dominant position in both the Bitcoin and Ethereum ETF markets makes it a decisive player in how money flows move within these funds. The recent interest in Ethereum aligns with broader developments, such as companies expanding their Ethereum positions.