Ether Products Lead $600M Crypto ETP Flow Rebound in July

XRP products added $34 million, Solana products $13 million and baskets $7 million, according to the report, which cites Bloomberg data for the five largest underlyings by assets under management.

The month ends a short but heavy stretch of redemptions. The same Bloomberg-sourced series shows $2.5 billion leaving crypto ETPs and ETFs in May and $4.4 billion in June, after $2.9 billion of inflows in April.

Bitcoin products still dominated trading even as ether led creations. 21Shares put global crypto ETP and ETF turnover at $133.3 billion in July, with bitcoin accounting for 78.5%, Ethereum 11.1%, other assets 9.1% and Solana 1.3%. Ether's flow lead therefore came off a far smaller activity base rather than a wholesale rotation out of bitcoin products.

Two Sets of US Numbers

21Shares analyst Matt Mena tied the flow turn to July's price action, writing that bitcoin closed the month up roughly 8%, its best monthly return since April 2026, while the S&P 500 fell 1% and the Nasdaq 100 fell 7%. Ether outpaced bitcoin with a 19% gain.

He also wrote that U.S. Solana ETFs have drawn roughly $341 million in net flows year to date and have posted positive net inflows every month since launching in November 2025.

The ether bid has held past the report's cutoff. Farside Investors' daily series of U.S. spot ether ETF flows shows net inflows of $53.1 million on Aug. 4, $60.8 million on Aug. 5, $92.1 million on Aug. 6 and $49.6 million on Aug. 7, following an $11.9 million outflow on Aug. 3.

The Defiant previously reported that bitcoin and ether spot ETFs reversed a weekly outflow streak.