Bitcoin & Ethereum ETF Flows, Week Ending July 31, 2026: ETH Takes the Month

Disclosure: This article is information and opinion, not financial advice. Flow figures are as of August 1, 2026 and revise as providers reconcile data. See our full disclaimer.

Welcome to the first edition of ETF Flows Weekly, where we read the institutional money so you don’t have to squint at dashboards. Good week to start, because July just closed and the month-end verdict is blunt.

Bitcoin ETFs finished July with roughly $172 million in net inflows. That’s positive, technically. It’s also the smallest monthly inflow on record for the products that defined this entire cycle.

Ethereum ETFs? About $365 million for the month. More than double Bitcoin’s total, and the strongest of any crypto ETF group. The rotation we flagged last week didn’t just continue. It closed the month as the story.

The week’s tape

The last week of July was a whipsaw. Bitcoin funds pulled in $233 million on July 30, one of their best sessions in months. Then July 31 handed back $265 million in a single day, the sharpest outflow of the week, with BlackRock’s IBIT swinging from hero to source of the bleeding.

Ethereum funds ran quieter and steadier: modest but positive sessions through month-end, including $12.8 million on July 30 and $9 million on July 31, led as usual by BlackRock’s ETH fund.

XRP and Solana products stayed small and positive. The altcoin ETF story remains what it was last week: alive, but a rounding error next to the majors.

Did the ETH streak hit week four? Honestly: depends who’s counting

Here’s something most flow coverage won’t tell you. Lookonchain’s CoinGlass-based count showed a third straight week of ETH inflows through July 28, about $71 million, while Bitcoin funds shed $200 million. Farside’s cash-flow data for July 24 to 30, a slightly different window, showed ETH mildly negative.

Both are “right”. Providers measure different things (cash subscriptions versus coin movements), cut their weeks on different days, and settlement lags shift flows across window edges. When the numbers are this small relative to fund size, the window decides the headline.

Our read: the direction is not in dispute, only the streak arithmetic. Over any July window you pick, money favored ETH and abandoned BTC. The monthly totals, where windows stop mattering, settle it: $365 million against $172 million.

The strange part: prices rose while everyone stayed scared

Now zoom out, because the flows are only half of July’s story. ETH gained roughly 20% on the month. Bitcoin added about 9%. The ETH/BTC ratio broke out of a months-long downtrend, the first real sign of ETH relative strength in 2026.

And through all of it, the Fear and Greed Index sat around 28. Fear, on a month where crypto beat basically every major asset class.

That disconnect is worth sitting with. Rallies that nobody believes in have historically had more room than rallies everyone is celebrating, though “historically” is doing careful work in that sentence. What it definitely means: sentiment is lagging the tape, and the marginal buyer, per the flow data, is choosing ETH.

What to watch in August

Three things. Whether ETH keeps the flow lead once the calendar turns and month-end positioning washes out. Whether Bitcoin’s record-weak inflow month was the bottom of institutional apathy or a step toward renewed outflows (May and June saw $2.4 billion and $4.5 billion leave, so July’s small positive was already an improvement). And whether the fear-versus-price gap resolves upward or the tape comes back down to meet the mood.

Bitcoin enters August near $62,900. ETH enters it as the month’s undisputed winner. Same time next week.

FAQ

Which crypto ETFs had the most inflows in July 2026?

Ethereum ETFs led all crypto funds with roughly $365 million in July net inflows, more than double Bitcoin ETFs’ $172 million, which was the smallest positive month on record for BTC funds. XRP products added about $27 million.

Why do ETF flow numbers differ between sources?

Providers like SoSoValue, Farside, and CoinGlass measure differently: some track cash creations and redemptions, others track coin movements, and they cut weekly windows on different days while settlement lags shift flows across edges. Directions usually agree; exact streaks and weekly totals often don’t.

What does it mean that Bitcoin ETF inflows hit a record monthly low?

July’s roughly $172 million was the weakest positive month since the products launched, signaling that institutional demand for BTC exposure remains thin even as outflows stopped. For context, May and June 2026 saw combined outflows near $7 billion, so a small positive month is an improvement from a low base rather than a return of conviction.