Ether Spot ETFs Draw $104M, Roughly Triple Bitcoin's Weekly Inflows

Spot ether ETFs attracted $103.8 million in net inflows for the week ended July 24, about three times the $33.9 million added by spot bitcoin ETFs, according to Farside Investors. It marks a second straight week in which ether products outpaced bitcoin, extending a shift that began earlier this month after both groups ended an eight-week run of outflows. BlackRock drove most of the divergence. Its iShares Ethereum Trust (ETHA) brought in $96.3 million over the five trading sessions, while the iShares Bitcoin Trust (IBIT) — the largest crypto ETF — recorded a $95.5 million net outflow. Farside data show consecutive withdrawals of $202.5 million and $212.2 million on Thursday and Friday. Bitcoin ETF flows were heavily front-loaded: $226.8 million came in on Monday and $203.2 million on Tuesday, then reversed sharply later in the week, leaving the group up just $33.9 million. Ether ETFs were more consistent early — $38.0 million, $37.5 million, $72.7 million and $26.3 million from Monday through Thursday — before a $70.7 million outflow on Friday reduced the weekly total. The previous week showed a similar pattern, with ether ETFs adding $105.5 million versus $75.5 million for bitcoin. Week over week, bitcoin's inflows fell 55%, while ether held roughly steady. Fidelity's ether fund (FETH) was an outlier, posting a $6.2 million weekly outflow, leaving ETHA responsible for more than the category's total net gain. On the bitcoin side, Fidelity's FBTC took in $35.2 million, partly offsetting IBIT's withdrawals. The allocation tilt toward ETH is playing out amid muted price action. Ether was last at $1,936, up 1.1% over the past 24 hours and about 2% on the week, per CoinGecko. It remains 61% below its August 2025 all-time high of $4,946, after falling 35% in a month when ETF flows turned negative earlier this year. Bitcoin traded at $64,780, little changed on the day. Beyond ETFs, corporate accumulation is also supporting ether's relative bid. BitMine Immersion, described by CoinGecko treasury data as the largest corporate ETH treasury, added 104,512 ETH over the past 30 days and now holds 5.78 million ETH — about 4.8% of supply. Whether ether continues to lead once bitcoin outflows stabilize will be tested in the next few weekly flow reports. For now, incremental institutional demand appears to be favoring ETH.