Blackrock, Fidelity Lead $265M Bitcoin ETF Outflows as Ether Gains

U.S. spot bitcoin exchange-traded funds (ETFs) recorded $265.4 million in net outflows on July 31, a sharp reversal from the previous day’s inflows. Blackrock’s iShares Bitcoin Trust (IBIT) led the retreat with $122.7 million in redemptions, followed by Fidelity’s FBTC at $54.8 million. Together, these two funds accounted for roughly two-thirds of the day’s total outflow.

The reversal stands out because it followed a strong inflow day on July 30, when the same funds attracted $233.1 million in net inflows, with IBIT alone pulling in $183.4 million. IBIT’s net assets fell from $47.67 billion on July 30 to $46.52 billion on July 31, despite still holding an estimated 739,066 BTC.

In contrast, spot ether ETFs moved in the opposite direction, with total net inflows climbing to $9.03 million on July 31. Blackrock’s iShares Ethereum Trust (ETHA) led contributions, extending a pattern of ether products outperforming their bitcoin counterparts on several recent trading days. This divergence is part of a broader rotation of institutional interest into altcoin-linked products, with XRP-linked ETFs recently crossing $1 billion in combined assets.

The July 31 pullback fits a longer pattern. The second quarter of 2026 marked the third consecutive quarter of net outflows for U.S. spot bitcoin ETFs, even as total assets under management across the category held around $105 billion. The category’s worst single day on record came in May 2026, when IBIT alone recorded approximately $528 million in outflows. Broader uncertainty around Washington’s crypto agenda, including the stalled CLARITY Act ethics negotiations, has added to caution among some institutional allocators.

With IBIT still controlling the largest share of category assets, its daily flows will likely continue to set the tone for the broader bitcoin ETF complex heading into August.

Source: https://news.bitcoin.com/crypto-news/bitcoin-etf-outflows-265-million-ether-inflows/