BTC slips as ETH, SOL drive $1.9 billion crypto funds inflows
Crypto funds have once again posted a strong week of gains, but not every asset moved in the same direction.
- Crypto funds had another strong week, with fresh billions flowing in.
- Ethereum stole the spotlight with massive inflows amid rising dominance.
- July’s inflows so far have already smashed past records
According to CoinShares’ latest weekly report, digital asset investment products saw $1.9 billion in net inflows, marking their 15th straight week of gains.
Ethereum (ETH) was the week’s best performer, pulling in $1.59 billion to mark its second-largest weekly inflow ever. This pushes its year-to-date total to $7.79 billion, already beating its full-year 2024 figure as the asset rallies amid renewed institutional appetite and growing retail interest.
Bitcoin (BTC), in contrast, missed out on gains. The world’s largest crypto asset took a hit to log $175 million in outflows, marking a first in several weeks. This is also the second week in a row that BTC has fallen behind ETH, overturning the previous trend that saw it constantly top the charts.
Solana (SOL) came in next with $311 million in inflows, followed by XRP (XRP) with $189 million. SUI (SUI) also posted a smaller $8 million in gains. But outside of these tokens, momentum cooled. Litecoin (LTC) and Bitcoin Cash (BCH), for example, saw slight outflows. This suggests selective rotation of funds into select assets, and not a full-blown altseason yet.
Total inflows for July have now hit $11.2 billion, the highest monthly figure ever. Regionally, the U.S. accounted for most of that with $2 billion in inflows, while Germany added $70 million. Meanwhile, Canada, Brazil, and Hong Kong all saw net outflows.
Bitcoin’s slip comes as its market dominance weakens, while Ethereum’s rally fuels talk of an altcoin breakout.
ETH leads altcoin stir
Ethereum has been outpacing BTC in recent weeks, climbing in market share as Bitcoin’s grip weakens. ETH dominance has now risen to around 12%, its highest level in five years.
Trading slightly under $3,890, ETH briefly touched $3,900 earlier today and is up approximately 1.9% in the last 24 hours.
U.S.-listed ETH-tracking ETFs are also outperforming Bitcoin’s by a wide margin, attracting billions in a three-week streak. The shift in capital rotation and broader investor sentiment is now prompting heightened calls that the altcoin season is edging closer.
Bitcoin is up 0.41% on the day, trading at $118,664 as it continues to hover below its all-time high.
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