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BTC 
ETH Institutional funds withdraw from Bitcoin
On-chain analytics platform Arkham pointed out that BlackRock customers have seen significant changes in their digital asset allocation this week. The company's Bitcoin ETF (code IBIT) recorded a net outflow of US$60 million. Analysts believe this is more like a deliberate tactical rebalancing than a complete withdrawal from the cryptocurrency market.
This data is consistent with broader trends. During the week from June 22 to 26, 2026, the U.S. spot Bitcoin ETF redeemed a total of approximately US$1.79 billion, of which IBIT contributed approximately 73% of the outflow. The rotation of funds to other asset classes has become an ongoing theme in 2026, with institutional attention shifting between different competitive opportunities.
Ethereum takes over
During the same period of Bitcoin outflow, Ethereum's configuration showed a quantifiable increase. According to Arkham data, BlackRock customers injected more than $20 million into Ethereum-related tools that week. This has been described by industry insiders as the first significant capital rotation between the two major digital assets since the 2026 fiscal cycle stabilized.
Interest in Ethereum products is not limited to a single week. From July 14 to 21, 2026, the Ethereum ETF attracted a net inflow of US$196.4 million. BlackRock's ETHA (Ethereum ETF) accounted for most of the demand, with inflows of $58.3 million on July 14,$52.8 million on July 21, and $31.7 million on July 17. In the week from July 13 to 17, 2026, the spot Ethereum ETF recorded a net inflow of US$105 million, setting the strongest weekly performance since April. Two consecutive weeks of net inflow also ended the previous eight-week outflow trend.
ETHA's brand influence, distribution channels and institutional trust give it structural advantages that are difficult for small issuers to replicate-which explains why BlackRock's ETF inflows drive Ethereum prices more than any other similar product.
Whether this week's combination of IBIT outflows and ETHA inflows is the beginning of a lasting trend or a short-term tactical adjustment remains to be seen. However, BlackRock products dominate both ends of the transaction, highlighting the huge influence that a single asset manager now has on institutional crypto capital flows.
