Bitcoin ETFs just bled $265M in a brutal 24 hours, and Ethereum’s supposed rescue is another BlackRock illusion
ETHB alone kept Ether funds positive, leaving the $9 million gain too concentrated to confirm broad rotation. Editor-in-ChiefCryptoSlateAug. 2, 2026at 1:10 am GMT2 min readU. S. spot Bitcoin ETFs lost $265. 4. . .
ETHB alone kept Ether funds positive, leaving the $9 million gain too concentrated to confirm broad rotation. Editor-in-ChiefCryptoSlateAug. 2, 2026at 1:10 am GMT2 min readU. S. spot Bitcoin ETFs lost $265. 4 million on July 31 after a $233. 1 million inflow the prior session. BlackRock's ETHB drew $15. 4 million, lifting Ether ETFs to a $9 million net inflow despite losses elsewhere. ETHB's 1. 67% staking rewards rate adds context, but one day's concentrated inflow does not confirm rotation. U. S. spot Bitcoin funds posted net outflows of $265. 4 million on July 31, reversing a $233. 1 million inflow the previous session. Ethereum showed a $9 million net inflow, but only because BlackRock's staked Ethereum fund drew more than the group gained overall. Every Bitcoin product displayed inFarside's July 31table was flat or negative. BlackRock's IBIT lost $122. 7 million, Fidelity's FBTC lost $54. 8 million, and Grayscale's GBTC lost $52. 6 million. BITB and ARKB lost another $17. 8 million and $17. 5 million, respectively. BlackRock's iShares Staked Ethereum Trust ETF, or ETHB, moved the other way with a $15. 4 million inflow. FETH, ETHW and Grayscale's mini Ether trust lost a combined $6. 4 million, while every other displayed Ether product was flat. Without ETHB, the group would have ended the day in outflow. One fund, not a rotation signalThe five trading sessions from July 24 through July 30 offer little evidence of a persistent shift toward Ether. Bitcoin funds lost a combined $36. 2 million, while the Ethereum products lost $69. 7 million. The wider 10-session window, from July 20 through July 31, was more favorable for Ethereum. Those funds gained $113. 8 million as Bitcoin funds lost $27. 6 million. BlackRock reportedabout $546. 1 million in net assets on July 31, when its NAV fell 2. 85% to $24. 04 despite the inflow. Its trailing 30-day staking rewards rate was 1. 67%, a backward-looking figure rather than a guaranteed yield. CryptoSlate Daily BriefDaily signals, zero noise. Market-moving headlines and context delivered every morning in one tight read. 5-minute digest100k+ readersFree. No spam. Unsubscribe any time. You’re subscribed. Welcome aboard. AniShares filingsaid that, as of April 15, the aggregate staking fee was 10% of gross staking consideration. Staking consideration net of that fee is intended for distribution monthly, but no less frequently than quarterly; the intended schedule does not guarantee a payment. The broader market was also lower. CryptoSlate's August 1 pages showBitcoinnear $62,958, down 2. 09% over 24 hours, andEthereumat $1,868, down 1. 09%. The pages were refreshed at different times after the ETF session, so the figures provide context rather than evidence that the flows caused either move. A stronger rotation case would require Ethereum inflows to persist across sessions and broaden beyond ETHB. July 31 instead shows a product-specific contrast: broad losses among the displayed Bitcoin funds and concentrated demand for one staked Ethereum wrapper. 1H-0. 02%24H-0. 11%7D-2. 51%30D+2. 36%60D-5. 92%90D-19. 90%Bitcoinis-0. 11%over the past 24 hours and currently sits at rank #1by market cap. Market cap$1. 26TVolume (24h)$13. 47B-55. 72%Circ. supply20. 06MFDV$1. 32TGlobal market cap$2. 16T24H market volume$35. 11BBitcoin dominance58. 52%Mentioned in this articlePosted inFollow the signalCurated intelligence, delivered your way. Never miss a market-moving update. Daily briefingTop stories & analysisMarket movesKey charts & dataPolicy updatesWhat to watchWeekly deep diveLong-form insights