Bitcoin ETFs Maintain Streak as Market Sentiment Stabilizes
Investor enthusiasm for crypto exchange-traded funds (ETFs) continued to strengthen on July 28, as spot Bitcoin ETFs logged their third consecutive day of net inflows, totaling $157 million, according to SoSoValue data. The inflow wave came despite a broader crypto market pullback, which saw total capitalization fall over 5% in 24 hours.
Leading the Bitcoin ETF activity was BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $147.36 million, far surpassing other products. This single-day performance reinforced IBIT’s position as the dominant player in the spot Bitcoin ETF space.
The cumulative inflows into U.S. spot Bitcoin ETFs now stand at $54.98 billion, with total assets under management (AUM) reaching $153.19 billion. Daily trading volume across these funds also remained robust, exceeding $3.34 billion, further validating their use as institutional exposure vehicles even amid short-term volatility.
This continued inflow streak aligns with long-term predictions for Bitcoin’s value proposition as a macro hedge. In fact, recent analysis projected that Bitcoin could hit $200,000 in 2025 if current global liquidity trends and M2 expansion persist, strengthening the investment thesis behind ETF growth.
Ethereum ETFs Gain Steam with 17 Straight Days of Inflows
While Bitcoin ETFs held strong, it was Ethereum ETFs that drew the spotlight, extending their record-breaking streak to 17 consecutive days of net inflows. On July 28 alone, ETH ETFs captured $65.14 million in inflows, signaling a powerful shift in investor sentiment and capital rotation into altcoins.
Once again, BlackRock led the charge, with its ETHA fund bringing in $131.95 million, increasing its AUM to $11.22 billion. That figure now accounts for more than half of all capital in Ethereum-based ETF products globally.
Institutional Sentiment Shifts Toward Ethereum
Experts argue that Ethereum’s recent breakout above key technical levels and its growing adoption metrics suggest a deeper market shift. Jamie Elkaleh, CMO at Bitget Wallet, emphasized Ethereum’s technical strength.
“Ethereum’s recent 60% rally and golden cross formation on the ETH/BTC ratio point to a structural trend reversal,” said Elkaleh. “This is no longer just a momentum trade, it’s a fundamental rotation.”
Supporting this view, Jeffrey Hu, head of investment research at HashKey Capital, described the trend as “a narrative shift in institutional behavior.”
“We are witnessing a pivot among corporate treasuries,” Hu said. “The fact that SharpLink Gaming has overtaken the Ethereum Foundation with 280,706 ETH holdings, valued at approximately $840 million, shows how serious traditional finance is becoming about Ethereum.”
Hu noted that more than $1.6 billion in ETH purchases by corporations occurred in the past month, not as passive holdings, but as active participation in Ethereum’s staking economy. “They’re running nodes, earning yield, and becoming part of the infrastructure. This is something we never saw with Bitcoin,” he added.
ETF Flows Reflect Broader Market Narratives
While inflows into Ethereum ETFs appear to be accelerating, Bitcoin ETFs remain fundamentally healthy. BlackRock’s IBIT still leads the space with $87.19 billion in assets, reflecting widespread institutional reliance on BTC as a treasury asset and store of value.
Fidelity’s FBTC also performed strongly on July 28 and secured $30.8 million in inflows. However, Ark Invest’s ARKB recorded $17.45 million in outflows, and this indicated selective shifts in fund flows that depended on fee structures and investor goals.
Daily volumes for Ethereum ETFs also reached $1.91 billion, driven by ETHA, VanEck’s EFUT and Grayscale’s ETHE, which together accounted for nearly a third of daily trading activity.
The growing popularity of ETH ETFs coincides with increased clarity around staking yield regulation and the potential for ETH ETF approvals in Europe, especially under the MiCA regulatory framework expected to roll out in Q4.
What Comes Next?
The upcoming weeks may provide clarity on whether Ethereum ETFs will be able to maintain their momentum and usurp Bitcoin’s dominance in the ETF space.
In the meantime, Bitcoin is not clocking out just yet. In fact, the $200K target proposed by analysts is still achievable based on liquidity trends, as explained by Techi’s Bitcoin price prediction. However, the ETF data may suggest that Ethereum is quickly becoming a core position in institutional portfolios rather than a non-core or alternative.
Capital Rotation Redefines The Crypto ETF Landscape
July 28 marked more than another day of positive ETF flows, it captured a pivotal moment in capital rotation within the crypto sector. While Bitcoin continues to provide macro-level resilience, Ethereum is attracting structural inflows thanks to staking utility, enterprise integration, and growing clarity from regulators.
The next market cycle may no longer be Bitcoin-led by default. Instead, investors appear to be preparing for a dual-engine crypto market, where Bitcoin maintains monetary dominance, but Ethereum drives adoption, infrastructure, and innovation.
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