New data from senior Bloomberg analyst Eric Balchunas reveals that US crypto ETFs (exchange-traded funds) beat out Vanguard’s renowned S&P 500 ETF (VOO) in July.

In a new thread on the social media platform X, Balchunas notes that US crypto ETFs had a staggering $12.8 billion worth of inflows in July, outpacing all other ETFs, including VOO, which currently has $713.13 billion in assets under its management.

“US Crypto ETFs took in $12.8 billion in July, the best month ever, [at] a $600m/day pace, about double [the] average. As a group, that’s more than any single ETF did, including the Mighty VOO.

Further, every ETF in [the] category took in cash (ex the converted trusts) w/ Bitcoin and Ether making equal contributions. Most all-around dominant performance since the Eagles ended the Chiefs in the Super Bowl. Will be hard to top.”

The analyst goes on to say that asset management titan BlackRock’s iShares Bitcoin Trust ETF (IBIT) is doing well and drawing in new customers.

“Amazing stat: 75% of the investors who bought IBIT ($87 billion via one million people) were first-time customers of BlackRock. And 27% of them went on to buy another iShares ETF. Just a total coup for BLK all around.”

According to Balchunas, IBIT – which launched in January 2024 – had a significant hand in Bitcoin’s (BTC) massive price growth over the last two years.

“1) ETFs hold BTC at a 1:1 ratio. There is no lending, there is no paper IOUs. ETFs are clean and above board and every dime of AUM is connected to the proportional Bitcoin.

2) Zoom out: Bitcoin is up nearly 300%(!) since the infamous BlackRock filing two years ago. ETF flows big part of that.

3) From what I am hearing on here, the selling is annoyed OGs who don’t like that Wall St. and the government has adopted BTC. I guess they prefer BTC to have intermediaries like Sam Bankman-Fraud instead.”

Bitcoin is trading for $113,763 at time of writing, a 3.2% decrease on the day while IBIT and VOO are valued at $64.27 and $572, respectively.

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For the first time in the 18-month history of US spot-crypto exchange-traded funds, the day’s heaviest torrent of institutional cash swept into Ethereum, not Bitcoin. Flow tallies for Thursday put net subscriptions across the nine US spot Ether ETFs at $602 million, edging out the $522.6 million that landed in the 11-strong cohort of U spot Bitcoin ETFs. The figures, compiled by on-chain analytics site SoSoValue, mark a symbolic hand-off between the two flagship assets in a market where Bitcoin has dominated inflows since July 2024.

Thursday’s surge came less than twenty-four hours after Ethereum funds smashed their own single-day record with an eye-watering $726 million haul, a feat that pushed cumulative holdings to just under five million ETH and lifted the spot price of the underlying token above $3,400 for the first time since January.

Ethereum Beats Bitcoin

The spearhead was BlackRock’s iShares Ethereum Trust (ticker ETHA) yesterday, which absorbed roughly $550 million—its second consecutive personal best—leap-frogging the firm’s flagship Bitcoin product IBIT on the day’s league table. According to flow data collated by Arkham Intelligence and Farside Investors, ETHA has raked in $1.25 billion over the past five sessions and now holds close to $7 billion worth of ETH, almost one-fifth of all assets parked in US Ethereum ETFs.

Bloomberg Intelligence analyst James Seyffart, posting on X, put the milestone in context: “As a group the US spot Ether ETFs have taken in over $5.5 billion since launch, including more than $3.3 billion since mid-April.” He noted that part of the magnetism stems from the return of a double-digit cash-and-carry basis on CME Ether futures, though futures positioning alone does not explain the depth of demand. Seyffart’s chart of CME open interest shows not only a sharp climb in nominal ETH terms but also a dollar-value trajectory that is beginning to rival early-2025 Bitcoin futures activity.

Structural tailwinds extend beyond arbitrage. Nasdaq has just filed to add native staking to BlackRock’s ETHA—a move that, if approved, would let the fund earn network rewards and potentially lift its headline yield above 5 percent, making Ether ETFs a rare blend of growth asset and income instrument.

Bitcoin, meanwhile, remains the undisputed heavyweight by sheer scale. Spot BTC ETFs have amassed $53 billion in net inflows since their January 2024 debut and command more than $150 billion in assets: ETF Store president Nate Geraci reminded followers that Bitcoin demand has hardly cooled, tweeting that spot BTC products logged inflows in 26 of the past 27 sessions, adding “over $10 billion” in fresh capital that is “pure & simple… institutional $$$.”

Yet Thursday’s flip in the daily standings underscores palpable momentum for Ethereum. Analysts attribute part of the shift to Ethereum-specific catalysts: a six-month high in staking yields, anticipation of SEC approval for staking-enabled ETFs by year-end, and bipartisan momentum behind the GENIUS and CLARITY bills that would hard-wire commodity status for most large-cap crypto assets.

Whether Thursday proves an inflection point or a statistical blip will depend on the sustainability of that rotation. For now, a once-unthinkable headline—Ethereum ETFs beat Bitcoin ETFs—captures the market.

At press time, ETH traded at $3,612.

Featured image created with DALL.E, chart from TradingView.com

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The Quant (QNT) Crypto sits nicely, just over $120. But the big question is whether it will destroy more than $200 by the end of the month.

For $122, there’s a way to go to QNT Crypto. Another 63% leap has reached $200. It didn’t go up to over $400 like asking for it within three weeks, like a lot, so big moves aren’t a problem, but the timing for this sprint is tough.

(Qntusd))

Discovery: Next 1000x Ciphers: 10+ Ciphers tokens that could hit 1000X in 2025

Will QNT Crypto break $200 by the end of June?

QNT shows consistent crypto growth, up over 60% over the last 12 months, ranging from the low of $75 to the current $120 range. The all-time high of $427.42 indicates the potential of a major pump. However, achieving a 63% increase in under three weeks requires exceptional market momentum and does not fully support the current trends.

QNT was $116, down 72% from ATH

CBDC Infrastructure play heated up with Bank of England’s integrated live, with only 520K tokens remaining in exchange.

6 months: $180-220 range
1 year: $300-400

Supply shock when CBDC mainnet starts up

Partnerships are not speculation…

– aixbt (@aixbt_agent) June 5th, 2025

Recent forecasts show that QNT reached $139 by June 13th, up to $155 by the end of June. If these numbers are met, they reflect an increase of 13-26% and fail to meet the $200 target. Breakouts above $150 could show very bullish momentum, but current analysis predicts ceiling lows below $200 in June, with the exception of unexpected catalysts.

Discover: 9+ Best High-Risk, High-Reward Code to Buy This Year

Recent development, market sentiment, and the impact of technical indicators

QNT’s choice as a pioneer partner in the European Central Bank’s digital euro project will strengthen the long-term outlook. The partnership has driven a price increase of over $115 from $98 last month. However, the short-term goal of reaching $200 remains limited without major surprises like announcements and milestones.

Market highlights Ethereum, Solana and Sui as strong candidates for the June profit, particularly with technical setup and network development. QNT is fundamentally healthy, but is not cited very often in the case of short-term outperformance. That steady growth will result in a reliable long-term holding, but may not lead the pack in June.

The QNT Relative Strength Index (RSI) is also hovering at 65, but still closed to overselling levels, but is considered neutral momentum in the crypto. While there is actually room for upward movement at current RSI levels, no immediate signs of breakouts are expected.

(Qntrsi))

Interest in QNT in online discussions is also moderate compared to other altcoins. This again shows the lack of immediate hype needed for a rapid 60% meeting.

QNT may not reach $200 this month, but as shown over the past year, there is a possibility of stable profits. QNT’s role in the Digital Euro Project also supports long-term value.

QNT is one of the crypto coins you can watch.

Discover: Best Meme Coin ICO for Investing in 2025

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At 08:30 ET today, the Bureau of Economic Analysis is set to release its advance estimate for US Q1 GDP, with consensus expectations at a 0.3% seasonally adjusted annual rate.

If confirmed, this would mark the weakest quarterly print since early 2022 and contrast starkly with the inflow of over $3 billion into spot Bitcoin ETFs last week, reflecting what some market participants interpret as a pivot in capital preference toward digital assets amid macroeconomic stagnation.

[Editor’s Note: Q1 GDP will not include tariff impact as the cut-off date came before ‘Liberation Day.’]

GDP forecasts show a stark divide. The Atlanta Fed’s Nowcast has called a contraction of 2.7%, while the Philadelphia Fed’s model projects growth of 2.5%, last updated on Feb. 14.

Regardless of the final figure, the drag from the record goods-trade deficit is a common feature across estimates, with some models attributing up to 1.9 percentage points of negative contribution to it.

This trade shortfall appears to be a delayed consequence of tariff front-loading, spurring preemptive imports during the prior quarter. Inventories are expected to be flat, while consumer sentiment continues to deteriorate, hitting a five-year low. Business capital expenditure has also been curtailed.

Inflationary persistence further complicates the picture. March’s Consumer Price Index rose 2.4% year-over-year, and the Core PCE index, the Federal Reserve’s preferred inflation gauge, stood at 2.8% in February.

Interest rate futures now price in over 90% probability of a rate cut by December. Concurrently, Treasury yields have declined and the dollar has weakened, reinforcing stagflation comparisons with the 1970s as economic growth stalls and inflation remains above target.

Bitcoin macro hedge for 2025?

Bitcoin’s market setup diverges notably from the traditional macro picture. Realized capitalization for the top digital asset continues to make new all-time highs, currently at $883 billion and signaling continued inflows despite the pullback from January’s price peak.

Data show that approximately 20,000 BTC exited exchanges in the past week, the highest weekly net outflow in two years, primarily driven by whale accumulation of 19,255 BTC. Meanwhile, spot Bitcoin ETFs captured $3.4 billion in inflows, the third-largest weekly intake to date.

BlackRock’s IBIT alone recorded $643 million on April 23, its second-largest single-day inflow.

Volatility metrics suggest a broader evolution in market structure. Realized volatility has compressed by roughly 50% from its 2022 peaks, and the volatility spread between Bitcoin and the Nasdaq now sits near cycle lows.

This compression has lent credence to characterizations of Bitcoin as a maturing asset class, a view reinforced by VanEck’s observation that its volatility and co-movement profile increasingly resemble that of gold rather than equities.

The juxtaposition between a near-stalling US economy and a record-high cumulative invested cost in Bitcoin reflects diverging narratives around capital preservation.

The trade deficit drag highlights the limitations of a tariff-distorted goods economy, while Bitcoin’s borderless framework offers a contrasting vehicle for global allocation.

The backdrop of tepid growth and elevated inflation has reopened discourse around digital assets as potential stagflation hedges, particularly as ETF demand endures despite recessionary signals.

With major funds from the likes of BlackRock and Fidelity continuing to absorb supply, flows into digital assets show resilience that is disconnected from conventional macro indicators.

Market participants now look toward the May 1 Core PCE update and next week’s FOMC decision for further clarity on rate trajectory and inflation conditions.

Mentioned in this article

Samson Mow, the CEO of Bitcoin-focused tech firm JAN3, believes that the US has a legitimate reason to increase its BTC holdings.

Mow says on the social media platform X that some crypto investors find the Strategic Bitcoin Reserve (SBR) underwhelming as President Trump’s executive order largely focuses on not selling the government’s seized BTC.

“Some Bitcoiners are saying the Strategic Bitcoin Reserve doesn’t do anything because it’s just seized assets and there’s no buying.”

But Mow says that the creation of the SBR is immense and has triggered “the real race for nation-state Bitcoin adoption.” He also says that a full audit of the government’s Bitcoin trove will reveal that the US is not the top BTC holder by country.

“It’s likely the US has 112,000 BTC or less because 95,000 belongs to Bitfinex and will be returned.

It does not have the 207,000 to 220,000 BTC number that many news sites usually go with. This would put China in the pole position with 194,000 BTC.”

In 2016, the crypto exchange Bitfinex lost about 120,000 BTC after suffering a massive security incident. The US government seized 95,000 BTC tied to the hack.

According to Mow, the US government will not allow a world where China has the largest Bitcoin stash.

“Now, you can imagine why that won’t be acceptable. With Bitcoin being deemed as strategic, the US will want to have the most – there will definitely be an audit of the supply and then ADDING to it.

Competition is good for Bitcoin.”

At time of writing, BTC is worth $86,388.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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