BlackRock took $343.4M across bitcoin and ether ETFs in one week while Fidelity lost $181M and Grayscale bled $53M. The crypto ETF market is splitting into two tiers.
The numbers from July 13-17 show a market splitting into two tiers. One firm absorbed most of the capital.
BlackRock's iShares Bitcoin Trust pulled in $204.1 million in net inflows over those five sessions. Its iShares Ethereum Trust added $135.3 million. Combined, BlackRock collected $343.4 million across its bitcoin and ether ETFs in that window.
The broader Bitcoin ETF market finished with a net positive $75.67 million. That headline number hides a sharp divergence among issuers.
Fidelity's Wise Origin Bitcoin Fund lost $181.1 million in withdrawals, including $4.18 million on Friday. Grayscale Bitcoin Trust bled $53.1 million. On the other side, Grayscale Bitcoin Mini Trust took in $70 million. Bitwise got $18.5 million. Morgan Stanley's fund pulled $7.4 million. VanEck collected $6.1 million. ARK 21Shares raised $3.6 million.
Ether ETFs attracted a net $105.44 million. The week started slow with $15 million in withdrawals on Monday, then flipped. Tuesday brought $58 million in inflows. Wednesday another $54 million, with no individual fund reporting red on either day. Thursday saw a $28 million pullback. Friday returned $36.7 million. BlackRock's ETHA led Friday with $31.7 million alone, followed by Fidelity's FETH at $5 million. Over the full week, ETHA captured $135.3 million, pushing its lifetime net inflows above $11.3 billion.
Other crypto segments showed more cautious behavior. ETFs tracking XRP sat idle most of the week before a $6.78 million inflow on Thursday, which became their entire weekly balance. Solana funds started flat, then saw a $707,000 withdrawal on Wednesday before recovering $1.66 million on Thursday, closing the week up $948,200.
HYPE ETFs had the worst week. They posted a net negative $7.26 million, with $3.9 million leaving on Monday and $5.45 million on Friday. A $2.13 million inflow on Wednesday barely dented the damage.
BlackRock also reported a record $15.3 trillion in assets under management for the second quarter, supported by $192 billion in net inflows across its global platform.
The data reinforces a pattern that has held for months: institutional access to crypto markets runs through the largest, most regulated issuers. BlackRock's infrastructure advantage lets it capture the bulk of new capital while peers like Fidelity and Grayscale see outflows. The weekly swings, a $181 million outflow from Fidelity's bitcoin fund in the same week BlackRock added $204 million, show that institutional commitments remain reactive. Strong accumulation bursts alternate with strategic profit-taking.
For a deeper look at how crypto derivatives volume now dwarfs spot, see our earlier report on the Cboe numbers. And for context on stablecoin adoption by major payment networks, read about Visa and BlackRock's push.
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