Bitcoin ETF struggles with capital outflow for four consecutive days

The Bitcoin spot ETFs in the United States remain under pressure. On 28 July, a net $49.75 million flowed out of these funds, marking the fourth consecutive day of net outflows. Meanwhile, Ethereum is faring much better: spot Ethereum ETFs are actually attracting money, and Morgan Stanley is entering the market with a brand new Ethereum Trust.

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Four Days of Outflows for Bitcoin ETFs

Data from SoSoValue shows that Bitcoin spot ETFs recorded a net outflow of $49.75 million on 28 July (ET). This is the fourth consecutive day in which investors have, on balance, withdrawn more money from these funds than they have deposited. The persistent outflow is creating mixed signals in the market, especially as the Bitcoin price hovers around $64K, a rise of 1.6% over the past 24 hours.

The chart shows that daily net inflows have been volatile for some time. Green and red bars alternate regularly, but the recent streak of four consecutive red days is particularly striking. Earlier this week, $116 million had already flowed out of Bitcoin ETFs, indicating that selling pressure has been persisting for a while.

Ethereum ETF Attracts Money, Morgan Stanley Steps In

While Bitcoin investors appear cautious, the picture for Ethereum is very different. Ethereum spot ETFs recorded a net inflow of $14.53 million on the same day. This is notable, especially as the pattern of weeks of positive inflows into Ethereum ETFs thus continues.

Adding to that is a major new entrant: Morgan Stanley is launching the Morgan Stanley Ethereum Trust, also known as MSSE. This fund will begin trading officially on NYSE Arca. The move by one of the world’s largest financial institutions towards Ethereum via an exchange-traded product is a significant development for the broader acceptance of crypto within traditional finance. Institutional interest in Ethereum thus appears to be growing further.