Crypto ETFs Attract Fresh Inflows as Bitcoin and Ethereum…

U.S. spot cryptocurrency exchange-traded funds finished the trading week on a positive note Friday, July 17, with both Bitcoin and Ethereum products recording net inflows as investors continued allocating capital to regulated digital-asset investment vehicles. Spot Bitcoin ETFs attracted a combined $132.3 million in net inflows, extending the market's recent recovery after experiencing mixed flows earlier in the week. Spot Ethereum ETFs also remained in positive territory, posting $36.7 million in net inflows and marking a rebound from the previous session's outflows. The combined $169 million in net inflows reflected steady institutional demand despite continued macroeconomic uncertainty and heightened scrutiny of digital assets by regulators and policymakers.

BlackRock Continues to Drive Bitcoin ETF Demand

BlackRock's iShares Bitcoin Trust (IBIT) once again accounted for the overwhelming majority of inflows, attracting $136.5 million on Friday. The strong performance was partially offset by a $4.2 million outflow from Fidelity's Wise Origin Bitcoin Fund (FBTC), while every other U.S. spot Bitcoin ETF reported zero net creations or redemptions for the day. The result followed Thursday's more modest $79.1 million of net inflows, when BlackRock added $33.4 million, Fidelity attracted $30.7 million and Bitwise's BITB brought in $15 million. Friday's figures therefore represented a meaningful acceleration in investor demand heading into the weekend. Since launching in January 2024, U.S. spot Bitcoin ETFs have accumulated more than $51.4 billion in cumulative net inflows. BlackRock remains the dominant issuer, accounting for approximately $60.5 billion of cumulative inflows, while Fidelity has gathered nearly $10 billion. Grayscale's legacy Bitcoin Trust (GBTC), meanwhile, has continued to experience cumulative net outflows exceeding $27.3 billion as investors have migrated toward lower-cost alternatives.

Ethereum ETFs Return to Positive Territory

Spot Ethereum ETFs also ended the week with positive momentum after reversing Thursday's weakness. BlackRock's iShares Ethereum Trust (ETHA) led Friday's activity with $31.7 million in net inflows, while Fidelity's Ethereum Fund (FETH) added another $5 million. No other Ethereum ETF reported material flows, leaving the category with a net daily gain of $36.7 million. The recovery contrasted with Thursday's $28 million net outflow, when Fidelity lost $11.2 million, Grayscale's ETHE shed $4.8 million and Grayscale's lower-fee ETH product recorded a further $14.3 million in outflows, partially offset by a $2.3 million inflow into Bitwise's ETHW. Ethereum ETF demand has remained more uneven than Bitcoin's since the products launched, although cumulative net inflows have now exceeded $11.1 billion. BlackRock continues to dominate the category with more than $11.3 billion of cumulative inflows, while Fidelity has attracted approximately $2.1 billion. Grayscale's converted ETHE remains the principal source of long-term redemptions, with cumulative outflows surpassing $5.3 billion as investors continue rotating into lower-fee competing funds. The positive finish for both asset classes suggests institutional investors remain willing to add regulated cryptocurrency exposure despite recent market volatility. With ETF flows continuing to serve as one of the strongest indicators of institutional sentiment, market participants will be watching closely to see whether the momentum carries into the new trading week.