U.S. spot bitcoin and ether exchange-traded funds moved in opposite directions on July 23, according to data from Farside Investors. Bitcoin ETFs suffered $225.1 million in net outflows, snapping a seven-day run of inflows, while ether ETFs attracted $26.3 million, extending their positive streak to five consecutive sessions.
The bitcoin outflow was broad-based. BlackRock’s iShares Bitcoin Trust (IBIT) bled $202.5 million, the largest single-day redemption. Fidelity’s Wise Origin Bitcoin Fund (FBTC) lost $5.6 million, Bitwise’s BITB $7.0 million, ARK Invest’s ARKB $4.3 million, Franklin Templeton’s EZBC $5.6 million, and WisdomTree’s BTCW $5.1 million. Only Morgan Stanley’s MSBT bucked the trend with a modest $5.0 million inflow.
On the ether side, Fidelity’s FETH led with $14.9 million, BlackRock’s ETHA added $8.5 million, and its staking product ETHB contributed $2.9 million. The five-day streak signals growing institutional appetite for ether exposure, especially yield-bearing instruments.
The divergence highlights a potential rotation or profit-taking dynamic within crypto ETF markets. While bitcoin outflows were heavy, they follow a strong accumulation period, and ether’s smaller but consistent inflows may reflect rising confidence in staking rewards and network upgrades. Market participants will watch whether the trend persists into late July.
