The cryptocurrency ETF landscape shows a significant capital shift, with spot Bitcoin ETFs experiencing consecutive outflows while Ethereum and Solana funds draw substantial institutional investment. Bitcoin ETFs ended a 12-day inflow streak on July 21 with $131 million in net outflows, followed by another $68 million outflow the next day. Bitwise's BITB and ARK Invest's ARKB led withdrawals at $42.3 million and $33.2 million respectively, though Grayscale's GBTC saw a $7.5 million inflow.
Conversely, Ethereum ETFs extended their inflow streak to 13 days, recording $297 million on July 21 and surging to $533.8 million the following day. BlackRock's ETHA dominated with $426.2 million inflows, while cumulative ETH ETF inflows reached $7.78 billion. Ethereum also surpassed Bitcoin in daily derivatives volume, reflecting heightened trading activity.
Solana entered the spotlight with its staking ETF attracting $12.6 million in fresh inflows, bringing total inflows to $105.4 million. Analysts at CryptoRank attribute Bitcoin's outflows to profit-taking after its 25% YTD surge, calling it "logical rebalancing" rather than bearish sentiment. They note Ethereum benefits from capital rotation and ETF-driven FOMO, with the altseason index hitting 60—a multi-month high—positioning ETH for potential H2 2025 upside despite near-term pullback concerns.