In a recent market shift, Ethereum ETFs have gained institutional interest while Bitcoin has taken a backseat. On July 22, Ethereum ETPs attracted $534 million in net inflows, meanwhile Bitcoin ETPs took a hit with losing $67.93 million.
As per Sosovalue data, this jump in Ethereum ETF demand lifted the total inflows to $8.32 billion. BlackRock’s ETHA led with $426.22 million in daily inflows, with the fund now managing over $10 billion in assets, holding 2.24% of Ethereum’s total circulating supply.
Major players like Fidelity, Grayscale, and VanEck have also boosted Ethereum’s numbers. Grayscale’s ETH trust saw $72.64 million, while Fidelity’s FETH added $35.01 million to the mix.
Ethereum Supply Tightens Amid Surging Demand
Ethereum’s total ETP assets now sit at $19.85 billion. That’s 4.44% of ETH’s total market cap. With trading volumes nearing $2 billion daily, ETH liquidity remains healthy. However, fewer tokens are hitting the market. The demand is outpacing available supply, creating a potential supply crunch.
Most ETH products have seen a small decline in price, with daily losses ranging from -1.77% to -1.91%. Even so, institutional demand is still high. Although there have been no fresh inflows, Bitwise’s ETHW is trading at $434.79 million. In the meantime, VanEck’s ETHV has amassed assets totaling about $205 million.
Bitcoin’s ETPs remain dominant in overall size. BlackRock’s IBIT holds $87.95 billion in assets. Still, it saw no new inflows on July 22. Bitwise’s BITB led in outflows with $42.27 million and ARKB followed with $33.18 million withdrawn.
Despite the outflows, Bitcoin ETPs still hold $154.77 billion in total. That’s 6.5% of Bitcoin’s market cap.