This month, analysts have repeatedly pointed to multiday inflows into the U.S.-listed crypto exchange-traded funds as evidence of the return of institutional demand. Bitcoin spot ETFs have pulled in just $205 million in net inflows in July, the lowest monthly total on record, according to SoSoValue data. ETH ETFs have attracted $342.85 million in July, almost as much as in April and outperforming bitcoin and other crypto funds. XRP is on track for a fourth consecutive month of inflows, though the sum remains a paltry $13.61 million. Ether’s stronger haul is consistent with its price performance against bitcoin.