Crypto ETF: Ethereum Surpasses Bitcoin as BlackRock Takes the Lead

Ether moves ahead. On July 22, Ethereum spot ETFs listed in the United States recorded a net inflow of $72.64 million, compared to $68.99 million for Bitcoin-backed funds, according to SoSoValue. The gap remains modest but extends a trend that began in early July: after two months of outflows, capital is returning to both assets, with a clear preference for BlackRock's products.

Key Points {#h-key-points}

• On July 22, Ethereum ETFs collected $72.64 million, compared to $68.99 million for Bitcoin funds.
• BlackRock's ETHA captured $53.47 million, the highest daily inflow across all crypto ETFs.
• Ethereum ETFs are emerging from eight weeks of outflows, totaling about $1.2 billion in withdrawals, with two consecutive positive weeks.
• Ether rebounded from $1,450 in June to $1,951 during the session, the highest since early June.

BlackRock Dominates Bitcoin and Ethereum ETFs {#h-blackrock-dominates-bitcoin-and-ethereum}

In detail, BlackRock's ETHA captured $53.47 million, accounting for nearly three-quarters of the net inflows recorded by Ethereum ETFs. On the Bitcoin side, IBIT, managed by the same company, attracted $38.78 million.

The world's largest asset manager thus absorbs most of the new capital in both segments. BlackRock benefits from competitive fees set at 0.25% for ETHA, significant liquidity, and a distribution strength that is hard to match among traditional investors.

This concentration is not new. On July 15, ETHA absorbed $45.3 million of the $53.8 million collected by Ethereum ETFs. Its product ETHB added $4 million, leaving less than $5 million for the other eight funds, according to Sosovalue.

BlackRock's dominance, however, masks very different movements among managers. During the week of July 13 to 17, ETHA garnered $135.31 million, while Fidelity's FETH recorded outflows. The net collection in the sector thus relies more on a dominant player than on a uniform return of investors.

Ethereum Erases Eight Weeks of Outflows {#h-ethereum-erases-eight-weeks-of-outflows}

The turnaround comes after a long period of disaffection. Ethereum ETFs had recorded eight consecutive weeks of net outflows, totaling about $1.2 billion in withdrawals. Bitcoin funds had lost approximately $8.26 billion during the same period.

The week of July 6 to 10 marked the break, with $84.42 million in net inflows for Ethereum ETFs. From July 13 to 17, the collection then reached $105.44 million, compared to $75.67 million for Bitcoin funds. July 22 thus confirms, on a daily scale, this recent outperformance of ether.

Prices follow the trend. After dropping to around $1,450 in June, ether reached $1,951 during the session on July 21, before returning near $1,920. Bitcoin, meanwhile, fluctuates around $65,500 to $66,000.

The rebound remains fragile. Inflows are primarily concentrated on ETHA, and the amounts recovered remain far below the withdrawals from the previous eight weeks. Two positive weeks and one session ahead of Bitcoin are not yet enough to establish a lasting trend.

Ethereum has nonetheless regained a symbolic advantage. After long existing in the shadow of Bitcoin ETFs, its funds are now attracting more capital. It remains to be seen whether BlackRock is truly leading the entire market or if it is almost single-handedly driving this return of ether.

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