11h29 ▪
4
min read ▪ by
It has almost become a refrain: crypto ETFs are smashing records again. Yet, once more, we find ourselves raising our eyebrows. Why? Because this time, incoming flows are accompanied by a strange calm. So, is this an acceleration or just a frenzy? When numbers dance, it’s better to keep an eye on the engines.
In Brief
- Bitcoin and Ethereum ETFs show massive inflows driven by Blackrock ($164.64 million) and Fidelity ($66.05 million).
- Bitcoin spot and futures volumes are at their lowest in over a year.
- Institutional investors keep up the pressure despite clear signs of a cautious market.
- Ethereum continues to attract while other altcoins struggle to keep pace.
Bitcoin and Ethereum: The Giants’ ETFs Collect Millions Without Stirring Dust
The Blackrock-Fidelity duo continues to spin its web over the crypto markets. Their Bitcoin ETFs and Ethereum ETFs are filling up.
IBIT (Blackrock) pulled in $164.64 million in one day. FBTC (Fidelity) is not left behind with $66.05 million. The same tune plays on the Ethereum side: Blackrock’s ETHA nets $53.21 million, followed by Fidelity’s FETH with $8.9 million.
In this momentum, even Grayscale with its Mini Trust is nibbling on $6.22 million. Meanwhile, outflows are marginal: -$10.21M for GBTC, -$10.07M for ARKB. Nothing darkening the picture.
Glassnode’s tweet signals a less cheerful outlook: “Summer calm is here. Bitcoin approaches $110,000, but volumes are drying up.”
And for good reason: the traded value remains massive — $2.89 billion for Bitcoin ETFs, $397.23 million for those of Ethereum — but market signals contradict this apparent dynamism. A major share of this activity comes from concentrated institutional flows, especially at Blackrock and Fidelity. A structurally unbalanced frenzy may be hiding behind this shiny surface.
A Worrying Calm Over Crypto Markets: Illusion or Time Bomb?
While ETFs expand, real activity is flagging. A sort of “summer lull” has settled in, as Glassnode has pointed out. It’s no mere impression.
Alex Kuptsikevich, analyst at FxPro, warns: “BTC continues to be pushed back towards $110,000. […] Sellers are just as active.”
We are witnessing a torn crypto market: silent accumulation or fear of the void? Even if the total market cap climbs 1.8% over the week, it fell 0.6% in 24h, reaching $3.35 trillion. Nothing trivial.
Key numerical benchmarks:
- $226 million inflows on Ethereum products this week;
- $22 million for Solana, $11 million for XRP;
- 12 consecutive weeks of positive net flows (CoinShares);
- Bitcoin spot volumes: $5.02 billion, lowest in a year;
- Futures volumes: $31.2 billion, also declining.
Ethereum therefore appears to be one of the few altcoins maintaining pace. But the shadow of a quick reversal looms. A word from Trump on tariffs and markets tremble. Bitcoin, meanwhile, remains stoic at $108,700, as if it had taken a liking to playing the safe haven role.
We remain optimistic about the continuation of this trend despite short-term volatility. Han Xu,
HashKey Capital
Crypto ETFs continue their ascent, but the engines are slowing down. Meanwhile, on the altcoins side, a grain of sand comes to spoil the party: the SEC requests a review of the files for the Solana ETF. Definitely, the summer is anything but quiet.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
