Institutional demand for cryptocurrency started the week unevenly. Ethereum-based funds attracted new buyers, products based on smaller altcoins showed modest growth, and bitcoin-based exchange-traded funds (ETFs) remained under pressure, extending a reversal that began late last week.
On Monday, July 27, bitcoin ETFs recorded a net outflow of $11.64 million. This outflow was modest compared to previous sessions but marked the third consecutive day ending in the red.
Ether rises as bitcoin inflows remain restrained
Only two bitcoin funds reported net activity. BlackRock's IBIT fund saw an outflow of $8.82 million, and Fidelity's FBTC fund lost $2.82 million. No bitcoin ETF attracted fresh capital during the session. Total trading volume reached $1.34 billion, and aggregate net asset value at the close was $78.71 billion.
Ether ETFs showed the opposite trend. This category received $9.23 million, with BlackRock's ETHA fund leading the way by attracting $11.75 million. A $2.52 million withdrawal from Invesco's QETH fund reduced the final figure. Ether ETF trading volume was $775.34 million, and net assets at the end of the day amounted to $10.65 billion.
This contrast reflects the selective nature of institutional demand. Bitcoin remains the benchmark for crypto market presence, but lately, investors have shown greater willingness to allocate funds to ether when conditions allow.
Giselle Ly, Director and Digital Asset Strategist at Fidelity International, told Bitcoin.com News that bitcoin is often the first stop for institutional investors entering the cryptocurrency market. She said ETFs lower the barrier to entry and help major investors make more informed asset allocation decisions, rather than simply prompting them to buy or sell bitcoin.
Solana and $XRP rise, while $HYPE continues to fall
Solana ETFs attracted $1.03 million, with most of the capital going to Bitwise's BSOL fund. Total trading volume was $39.55 million, and net assets at the close were $889.31 million.
ETFs on $XRP attracted a more modest sum of $592,470. All the inflow went to Franklin Templeton's XRPZ fund. Trading volume for $XRP products reached $12.66 million, and aggregate assets remained at around $1 billion.
$HYPE ETFs remained the weakest market segment. This category saw a net outflow of $2.89 million, extending a difficult period following a successful start. Bitwise's BHYP fund lost $2.24 million, and 21Shares' THYP fund saw an outflow of approximately $658,940. Trading volume for $HYPE ETF funds reached $12.82 million, and net assets fell to $279.22 million.
Monday's data showed that institutional capital hasn't gone away. It has become more selective, favoring ether and measured altcoin investments, while funds investing in bitcoin and $HYPE face renewed selling pressure.
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