Emre Yumlu 
The crypto markets witnessed notable ETF activity on July 21, 2025. While spot Bitcoin ETF products saw a total net outflow of $131.4 million, the Ethereum ETF side recorded a massive $296.5 million net inflow. This situation provides important clues regarding the short-term direction of the market and institutional investor interest.
Net Outflows from Bitcoin ETFs: Are Investors Taking Profits?
According to the day’s ETF data, the prominent outflows are as follows:
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GBTC: -$36.70 million
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ARKB: -$77.50 million
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FBTC: -$12.80 million
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HODL: -$2.50 million
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BITB: -$1.90 million
In major funds like IBIT, BTCO, and BRRR, there was no net movement.
With these figures, the total outflow stood at $131.4 million. Bitcoin, which had been consolidating around the $100,000 level for a long time, recently experienced a rapid surge to $120,000 levels. Following this sharp move, many investors are believed to be realizing profits and expecting a potential correction—these are considered the main reasons behind the outflows.
Institutional interest in Bitcoin has not diminished; however, short-term technical dynamics have led to temporary caution.
Record Inflows into Ethereum ETFs: Institutional Interest is Rising
On the other hand, Ethereum ETF products experienced a strong wave of buying:
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FETH: +$126.90 million
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ETHA: +$102.00 million
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ETH: +$54.90 million
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ETHW: +$13.10 million
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CETH: -$400K (the only negative move)
No movement was observed in the remaining ETFs (ETHE, QETH, EZET, ETHV), while the total net inflow reached +$296.5 million.
Ethereum, which had been trading sideways at low price levels for a long time, recently broke its price correlation with Bitcoin and gained stronger momentum. This rise was particularly supported by institutional investor interest. The strong inflows into Ethereum ETF products clearly reflect this institutional demand.
Rate Cut Expectations Will Guide Crypto
The movements on both the Bitcoin and Ethereum sides are closely related to global macroeconomic expectations. In particular, the U.S. Federal Reserve’s (FED) anticipated interest rate cut remains the most decisive factor affecting crypto ETFs.
Market attention is now focused on a potential rate cut decision toward the end of 2025. Such a development could lay the groundwork for a new rally in both cryptocurrencies and associated ETF products.
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