Bitcoin ETFs just bled $265M in a brutal 24 hours, and Ethereum’s supposed rescue is another BlackRock illusion
U.S. spot Bitcoin ETFs had net outflows of $265.4 million on July 31, reversing the prior session’s $233.1 million inflow. Nearly every Bitcoin fund was negative, led by BlackRock’s IBIT (-$122.7 million), Fidelity’s FBTC (-$54.8 million), and Grayscale’s GBTC (-$52.6 million). BITB and ARKB also saw outflows. Ethereum ETFs posted a small $9 million net inflow, but this was driven almost entirely by BlackRock’s staked Ethereum fund, ETHB, which took in $15.4 million. Other displayed Ether products were flat or mildly negative, so Ethereum would have ended the day in outflow without ETHB. Recent flow patterns do not show a clear sustained shift from Bitcoin to Ether. Over July 24–30, both groups saw outflows, while the broader July 20–31 window favored Ethereum overall. The stronger demand for ETHB suggests product-specific interest rather than broad rotation.
