Bitcoin, Ethereum ETFs see $240M and $71M net outflows on July 24

It was not a great Thursday for crypto ETF bulls. U.S. spot Bitcoin and Ethereum ETFs shed a combined $310.62 million in net outflows on July 24, with institutional money exiting both products in a single day of coordinated selling pressure. Bitcoin ETFs bore the brunt of it, recording approximately $240.1 million in net outflows. Ethereum ETFs followed with around $70.7 million in redemptions. BlackRock led the selling Here’s the thing about these outflow numbers: they were not spread evenly across issuers. BlackRock’s IBIT, the largest Bitcoin ETF by assets, accounted for roughly $212 million of the Bitcoin outflows alone. On the Ethereum side, BlackRock’s ETHA product drove approximately $52.8 million of the outflows, making it the primary source of redemptions within that category as well. It is worth noting that secondary data sources produced slightly different reads on the day. Lookonchain, citing on-chain data, reported Bitcoin outflows closer to $226 million, and flagged minor Ethereum inflows in some breakdowns. ETF flow data is notoriously difficult to pin down in real time, given settlement timing and methodology differences between trackers. The directional story, howe...