Ether exchange-traded funds attracted $27.42 million in the week ended July 31, marking a fourth consecutive week of inflows for the products. Bitcoin funds, meanwhile, lost $61.53 million over the same period, extending a recent trend of outflows from the largest crypto asset. The divergent flows come as a broader market rally that pushed digital assets higher earlier in the week faded by Friday.
Ether ETFs extend streak
The latest inflows bring the four-week total for ether ETFs to roughly $110 million, a sign that institutional appetite for the asset may be building. Ether funds have now seen net inflows in every week since mid-July, a run that stands in sharp contrast to the persistent outflows from bitcoin products.
Bitcoin funds reverse course
Bitcoin investment products lost $61.53 million in the week, reversing a modest inflow the prior week. The outflows suggest that some investors are taking profits or rotating into other assets after bitcoin's strong performance earlier this year. The week's total for bitcoin funds was the largest outflow since early June.
Solana and XRP gain, HYPE struggles
Solana and XRP funds both recorded inflows during the week, though the amounts were not specified. The gains for these altcoin products indicate that some investors are diversifying beyond the two largest cryptocurrencies. HYPE, a token that has seen significant redemptions in recent weeks, recorded another week of outflows, continuing a pattern that has persisted since its launch.
Rally fades by Friday
The broader crypto market saw a rally of about $233 million in market value earlier in the week, but that gain had completely evaporated by Friday. The pullback erased the week's earlier optimism and left prices roughly flat for the period. The mixed fund flows and the failed rally suggest that the market remains in a consolidation phase, with no clear direction emerging.
Investors will be watching next week's flow data to see whether ether ETFs can extend their winning streak and whether bitcoin outflows accelerate or slow. The week ended August 7 will provide the next read on institutional sentiment.
