Ethereum ETFs saw $152.3M in outflows on August 1—the first outflow in 20 days.
BlackRock's ETH ETF recorded zero outflows, signaling strong institutional confidence.
As crypto markets faced a sharp correction this week, ETH dropped nearly 7% this week, dipping below $3,400 level. Despite the pullback, the institutional confidence in Ethereum appears stronger than ever.
During the latest market dip, BlackRock’s ETH ETF stood its ground, with zero outflows while other crypto ETFs saw notable volatility.
BlackRock’s ETH ETF Stands Tall
On August 1st, ETH ETFs saw their first outflow in 20 days, with $152.3 million in Ethereum pulled out.
According to data from Farside, the largest outflows came from VanEck with $47.7 million, Bitwise with $40.3 million, and Grayscale with $37.2 million. 21Shares followed with $8.4 million, Fidelity saw $6.2 million, Franklin Templeton recorded $5.4 million, ProShares had $5.2 million, and Coinbase logged $1.9 million in outflows.
BlackRock was the only player with zero outflows, which shows its unwavering institutional confidence in Ethereum despite the broader market pullback. It’s clearly playing the long game.
Meanwhile U.S. Bitcoin ETFs saw total outflows of $812.3 million. The biggest drops came from Fidelity with $331.4 million, ARK Invest with $327.9 million, and Grayscale with $66.8 million. BlackRock’s IBIT posted a relatively small $2.6 million outflow.
Ethereum Dominates July with $5.43B in ETF Inflows
Ethereum ETFs had net inflows on 30 of 31 days in July, pulling in a massive $5.43 billion for the month. BlackRock’s ETHA led the charge with over $4 billion alone. With a 20-day inflow streak, demand for ETH is showing no signs of slowing down.
Whales Keep Accumulating ETH
While Ethereum gains momentum, whale activity is heating up behind the scenes. Since July 9, a total of 12 new wallets have scooped up 808,347 ETH, valued at $2.85 billion.
Cryptoquant analysts note that Ethereum broke out strongly in mid-July, fueled by a surge in ETF inflows. Unlike Bitcoin, whose ETF volumes stayed steady, Ethereum saw a clear spike, signaling a capital rotation from BTC to ETH.
This shift highlights growing institutional interest, putting Ethereum at the center of market momentum.