Bitcoin ETFs snap their inflow streak while Ethereum funds keep printing green

US spot Bitcoin ETFs recorded $225 million in net outflows on Thursday, July 24, ending a seven-session inflow streak that had been one of the strongest runs for the category in months. The selling was heavily concentrated in a single fund: BlackRock's iShares Bitcoin Trust ($IBIT), which accounted for $202.5 million of the total redemptions.

Bitcoin Takes a Breather After a Strong Run

The reversal follows a recovery period that had seen Bitcoin ETFs attract nearly $1 billion over seven straight sessions, their strongest stretch in 11 weeks. July had been shaping up as the first month of net inflows since April, though the broader picture remains challenging. According to 247 Wall St., investors pulled $4.51 billion from these funds in June alone, and the buying across July has recovered only around 15 percent of that damage.

The concentration of Thursday's outflow in $IBIT is notable. BlackRock's fund has served as the primary barometer of large institutional positioning in Bitcoin ETFs. When $IBIT leads selling, as it did on July 24 with $202.5 million in redemptions, it typically signals that one or more significant holders reduced exposure rather than a broad retail exit. Other funds posted smaller outflows, including Fidelity's FBTC at $5.6 million, Bitwise's BITB at $7 million, and ARK 21Shares' ARKB at $4.3 million. Morgan Stanley's MSBT was the only Bitcoin fund to record a meaningful inflow, attracting $5 million.

Against $78.8 billion in total Bitcoin ETF assets, one red day reads more as noise than trend. But the source of that noise matters to allocators watching positioning signals.

Ethereum ETFs Hold Their Momentum

Spot Ethereum ETFs told a different story on the same day. The category pulled in $26.3 million for a fifth consecutive session of inflows, led by Fidelity's $FETH at $14.9 million, followed by BlackRock's ETHA with $8.5 million. The Ethereum ETF complex now holds approximately $10.3 billion in total net assets.

The divergence between the two asset classes is the detail allocators are likely to flag. Some analysts have described Thursday's flows as a controlled rotation, with capital moving out of Bitcoin exposure and into Ethereum products rather than leaving the crypto ETF market altogether. A sustained Ethereum bid through a down week for Bitcoin, if it continues, would mark a meaningful shift in how institutions are distributing risk across the two largest digital asset ETF categories.

Whether Thursday's Bitcoin outflow proves to be a one-session pause or the start of a broader reversal will depend heavily on the sessions ahead.

Sources:
FinanceFeeds: US Crypto ETF Flows Split on July 23 as Bitcoin Funds Lose $225 Million
247 Wall St.: BlackRock's IBIT Leads Nearly $1B Bitcoin ETF Recovery as Inflows Hit 7 Straight Days
Cryptonomist: Bitcoin ETF Outflows Mark End to 7-Day Inflow Streak