Bitcoin ETFs Bleed While Ethereum Funds Post Third Straight Weekly Inflow

Bitcoin (BTC) exchange-traded funds (ETFs) shed 3,170 BTC over the past seven days, all while Ethereum (ETH) ETFs added 37,959 ETH over the same stretch.

The split points to growing institutional appetite for ether. BlackRock’s ETHA fund drove most of the week’s Ethereum inflows, while its IBIT fund accounted for most of Bitcoin’s losses.

Bitcoin Funds Retreat as Capital Looks Elsewhere

The iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF, lost 3,511 BTC over the week. That alone topped the category’s entire net decline of 3,170 BTC. Grayscale’s Bitcoin funds fell another 10 BTC, and Bitwise’s BITB lost 27 BTC.

Fidelity’s FBTC and ARK 21Shares’ ARKB offset some of the damage, adding 109 BTC and 77 BTC, respectively. Bitcoin trades near $63,900, up about 4% for the week even as the funds bleed.

Bitcoin ETFs are still climbing back from months of heavy outflows. They have recovered just 3.3% of the $8.2 billion that left the category by mid-July.

Institutions Deepen Their Ethereum Bet

Ethereum ETFs pulled in 37,959 ETH over the week, and BlackRock’s ETHA fund alone accounted for 37,424 ETH of that total. Grayscale’s ETH products added 5,515 ETH, while Fidelity’s FETH lost 4,980 ETH.

The flows extend a run BeInCrypto reported earlier this month. Ethereum funds notched a third straight weekly inflow through July 24. They pulled in $103.9 million, more than any other spot crypto ETF that week.

July 28 Update:#Bitcoin ETFs:1D NetFlow: +20 $BTC(+$1.23M)🟢7D NetFlow: -3,170 $BTC(-$200.23M)🔴#Ethereum ETFs:1D NetFlow: +11,285 $ETH(+$21.16M)🟢7D NetFlow: +37,959 $ETH(+$71.17M)🟢https://t.co/lnDlgzA3OG pic.twitter.com/x3u98rNGXX

— Lookonchain (@lookonchain) July 28, 2026

Wall Street’s appetite for ether reaches beyond ETFs. BitMine’s stock jumped 13% this week as investors rewarded its Ethereum treasury strategy, and SharpLink Gaming kept adding to its ETH holdings through the summer’s volatility.

The combination of ETF inflows and treasury demand points to a structural shift rather than a short-term trade. Bitcoin ETFs still hold $76.22 billion in assets, more than seven times Ethereum’s $9.72 billion, but fresh capital increasingly favors ether. Ether trades near $1,913, up roughly 1% for the week.