Bitcoin ETF Sees $79 Million Inflow, Ethereum ETF Sees Outflow

US spot Bitcoin ETFs showed a positive picture on 16 July with total net inflows of $79.15 million. At the same time, Ethereum ETFs saw outflows: a total net outflow of $28.04 million. The Bitcoin price stands at $62.900 at the time of writing, down 1.7% in the past 24 hours.

Bitcoin is available at OKX and Bybit.

BlackRock dominates Bitcoin ETF inflows

A large portion of the total inflows into Bitcoin ETFs came from BlackRock. On 16 July, the IBIT fund of the world’s largest asset manager attracted $33.44 million, leaving the other funds far behind. That accounts for nearly 42% of the total daily inflow into all spot Bitcoin ETFs combined.

The recent inflow figures fit into a broader trend in which institutional players are steadily building positions in Bitcoin through regulated ETF structures. Earlier, Bitcoin and Ethereum ETFs already attracted hundreds of millions, although daily movements have since become more erratic. Charts from SoSoValue show that total net assets in these funds currently stand at $77.72 billion.

Ethereum ETF sees outflow, but Bitwise is the exception

The picture is much less rosy for Ethereum ETFs. With a total net outflow of $28.04 million on the same day, money is flowing out of these funds on balance. The Ethereum price is also under pressure, and it was already noted earlier that a correction threatens Ethereum.

One fund stands out positively amid the outflows: Bitwise’s ETHW posted the largest one-day inflow of all Ethereum ETFs with $2.28 million. This is notable, because the crypto-focused asset manager Bitwise is indeed able to attract new money while the sector as a whole records outflows. Whether this opposite movement at Bitwise will become a structural trend or a one-off outlier remains to be seen.