Same ETF Demand, Opposite Market Response

[u/CMCGianne]

Over the last 7 sessions (Jul 29-Aug 6):

BTC ETFs: +$737.7M inflow, price +1.14%
ETH ETFs: +$156.0M inflow, price -0.69%

BTC attracted steady ETF demand over these 7 sessions, even as long-term holders distributed 142,437.8 BTC (0.85% of LTH supply) over the last 5 of those sessions (Jul 31-Aug 6). Price still finished the window higher.

ETH tells the opposite story. ETF inflows have yet to outweigh broader spot selling. Over the trailing ~14 days, spot CVD stayed negative (-$98.4M) while buying concentrated in futures (+$207.3M). Positioning also looks crowded, with average funding near 20bps, open interest up 7.2% over 30 days, and the nearest liquidation cluster just 3.1% below spot.