Ethereum ETFs added 93,427 ETH this week, led by Fidelity and iShares.
ETH/BTC broke resistance at 0.023000, targeting 0.034314 next.
Bitcoin ETFs gained 1,150 BTC, with GBTC the only fund showing outflows.
Ethereum ETFs added 12,455 ETH on July 1, boosting weekly net flows to 93,427 ETH. Meanwhile, Ethereum broke out against Bitcoin, signaling fresh upside momentum with Fibonacci targets now in focus.
ETF Inflows Reveal Growing Ethereum Demand
Ethereum ETFs have registered consistent inflows over the past week, with notable contributions from iShares and Fidelity. According to a report by Lookonchain, Fidelity added 10,237 ETH in 24 hours, leading all providers during the latest session.
iShares followed closely, gaining 2,421 ETH on the day and recording a massive 87,677 ETH over the week. Total holdings across all Ethereum ETFs now stand at 4.11 million ETH, worth approximately $9.84 billion.
Bitwise and 21Shares also posted moderate gains, while Grayscale’s ETH Trust showed sustained outflows. Over seven days, Grayscale lost 7,914 ETH, the highest among all funds, while its Mini Trust dropped another 2,746 ETH.
Bitcoin ETF Flows Remain Stronger Overall
In contrast, Bitcoin ETFs maintained stronger consistency, logging a total inflow of 1,150 BTC in 24 hours. Leishman stated in an update that iShares (IBIT) led this cohort, adding 1,045 BTC during the same session.
Fidelity added 3,730 BTC across seven days, while ARK 21Shares reported a daily outflow of 95 BTC but held a net 2,390 BTC gain. The combined BTC holdings now total 1.25 million BTC, translating to $130.92 billion in value.
GBTC remained the only Bitcoin ETF showing dual outflows, with 23 BTC pulled in one day and 88 BTC over seven days.
ETH/BTC Breakout Holds Key Technical Implications
Ethereum has broken above long-term resistance on the ETH/BTC pair, closing near the 0.023000 level. In a post by Niels, the pair is now targeting a breakout toward the 1.618 Fibonacci extension at 0.034314.
https://twitter.com/Web3Niels/status/1939973209182355657
The breakout follows a confirmed histogram divergence that started in late 2024, with green bars building above the midline. This move signals rising demand for ETH, while Bitcoin remains directionless across key levels.
Ethereum's structure shows rising strength, with next targets at 0.042737 and 0.051161 on the 2.618 and 3.618 levels. Market participants now look to see if ETH can sustain this trajectory and extend dominance over BTC.
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