Bitcoin ETF inflows reached $32.11 million on July 29. Spot Bitcoin ETFs showed positive investor activity.
Conversely, spot Ethereum ETFs experienced net outflows. They recorded $18.65 million in withdrawals.
Why Bitcoin ETF inflows matter
BlackRock’s IBIT led the day with $89.83 million. This brought its cumulative inflows to $60.42 billion. Nevertheless, Fidelity’s FBTC saw the largest outflow. It recorded $43.08 million in withdrawals.
Total net asset value of Bitcoin ETFs reached $77.46 billion. This represents 6.08% of Bitcoin’s market cap. Cumulative net inflows now stand at $51.36 billion.
Ethereum ETFs show weaker picture
Ethereum ETFs recorded $18.65 million in net outflows. Nevertheless, some funds performed positively. Morgan Stanley Ethereum Trust led with $14.30 million inflows. This brought its total to $19.45 million.
BlackRock’s ETHA recorded $5.16 million in inflows. Its cumulative total reached $11.43 billion. However, Fidelity’s FETH saw the largest outflow. It recorded $16.07 million in withdrawals. FETH’s total inflows stand at $2.11 billion.