What happened: Bitcoin's week fizzled to +$33.79M

Spot Bitcoin ETFs limped to the finish line last week. Across the five sessions ending July 24, the US spot BTC complex netted just $33.79 million of inflows — technically a third straight positive week, but only barely, per Odaily.

The reason the number is so thin: a late-week flush. US spot Bitcoin ETFs bled roughly $465 million over a 48-hour stretch — about $225.1M on the first day and $240.08M on July 24 — snapping a seven-session run of daily inflows, according to The Crypto Times. On Friday, BlackRock's IBIT led the redemptions at about $212.2M, with Fidelity's FBTC down roughly $27.9M. Inflows into ARK-21Shares' ARKB (~$85.8M) and the Grayscale Bitcoin Mini Trust (~$78.1M) absorbed part of the shock but not all of it.

So the tape technically stayed green, but the flush wiped out nearly everything the week had built. For context on how one fund can dominate these swings, see our note on IBIT's concentration streak snapping.

Ethereum quietly out-netted Bitcoin more than 3-to-1

While Bitcoin gave most of its week back, spot Ethereum ETFs booked $103.9 million of net inflows for the week ending July 24 — a third consecutive weekly inflow, per Farside Investors data summarized by CryptoNews and FinanceFeeds.

That is roughly 3.1x Bitcoin's $33.79M net for the same week — and Ether did it on a far smaller asset base. The ETH complex even weathered its own Friday reversal: a ~$70.6M outflow on July 24, led by BlackRock's ETHA (~$52.8M) and Fidelity's FETH (~$27.8M), yet still closed the week solidly positive. Month-to-date, spot Ether ETFs have pulled in about $337.74 million in July.

Among altcoin products, the rotation extended further down the stack: US Solana ETFs added single-digit-million inflows and pushed group assets toward the $900M–$912M range on cumulative flows of roughly $1.16B (TipRanks). The through-line: money kept arriving in crypto ETFs last week, but the *leadership* moved off Bitcoin.

Reading the rotation: normalize the flow to the asset base

The headline "$103.9M vs $33.79M" understates the shift once you scale it. Ethereum's ETF complex is a fraction of Bitcoin's AUM, so a $103.9M week is a much larger *percentage* creation of new shares than Bitcoin's $33.79M is against the mega-cap BTC book. In creation-unit terms, ETH funds minted proportionally far more new supply than BTC funds did.

This is the same relative-flow dynamic we flagged when Bitcoin and Ether ETF flows first diverged on July 9 and again in the weekly reversal on July 12. What is new this week is the *sequencing*: Bitcoin ran a seven-day inflow streak and then coughed up $465M in two sessions, while Ether ground higher through its own Friday wobble. Absolute dollars favor Bitcoin; momentum and share-of-new-money favor Ether.

What it means for investors

A near-zero net week is not a calm week. Bitcoin's +$33.79M hides a violent round-trip — seven days up, then $465M out in 48 hours. For an ETF holder, that churn is what drives creation/redemption pressure at the NAV strike. When authorized participants redeem $240M in a session, the fund sells spot into the close; the net-flat weekly print tells you none of that.

Watch share-of-new-money, not just the dollar headline. Ether out-netting Bitcoin 3-to-1 on a smaller base means new-share creation is rotating toward ETH faster than the raw figures suggest. If that persists, ETH funds' premium/discount and secondary-market spreads tighten first — a liquidity edge that historically follows sustained creations. For a side-by-side on the two largest Ether products, see our ETHA vs FETH comparison.

The pre-market open is where a Friday flush actually prices. Both IBIT and ETHA took their biggest hits on July 24, but crypto trades through the weekend while the funds do not. When BTC or ETH gaps overnight, the ETF must reprice at the 9:30 ET open to a NAV that already moved. Pre-Tick's engine maps the live spot move onto each fund's last close so you can estimate the open before the bell — the practical read on a week that ended with both majors selling off into Friday.

Bottom line: last week's crypto-ETF tape stayed green, but the composition changed. Bitcoin gave back $465M in two days to net almost nothing; Ethereum booked $103.9M and a third straight weekly inflow. Treat the flow leadership rotation — not the barely-positive Bitcoin print — as the signal.