See how crypto ETFs, led by Ethereum (ETHE11) and Bitcoin (BITH11), closed the first week of August with solid gains.
In the first week of August 2026, crypto ETFs demonstrated resilience against risk aversion in traditional markets. While the Brazilian stock exchange pulled back under the weight of declining commodities and Selic rate adjustments, index funds linked to Ethereum and Bitcoin posted consistent gains, driven by improving global liquidity and institutional inflows.
During the week under review, global geopolitical developments—highlighted by conflicts and subsequent signs of easing in the Middle East—helped dictate institutional capital flows. While the domestic equity market suffered from interest rate repricing (with Copom cutting the Selic rate to 14.00% per year under a cautious tone) and a sharp drop in commodities, the crypto asset market managed to capture positive inflows.
This movement highlights the direct influence of global macroeconomics on asset performance. Part of the price support in cryptocurrencies stemmed from tactical allocation behavior (the bandwagon effect or cascading behavior), where major institutional players reinforced positions motivated by US payroll data more aligned with expectations, favoring the liquidity outlook for alternative assets.
Impact on ETF Performance
The ETHE11 ETF (Ethereum) led the week with a +3.76% gain, closely followed by BITH11 (Bitcoin), which advanced +3.50%. The two largest cryptocurrencies by market cap captured institutional investor preference and market optimism, maintaining consolidation around key technical levels (Bitcoin in the $64,000 to $65,000 region).
HASH11, which reflects the performance of a multi-asset crypto basket, closed up +2.10%. This weighted performance reflected a more defensive allocation approach.
Meanwhile, the SOLH11 ETF (Solana) advanced more modestly, rising +0.68%, digesting isolated volatility while consolidating short-term support levels.
On the flip side, the XRPH11 ETF traded against the broader trend, recording a significant drop of -4.88%. The contraction reflects ecosystem-specific dynamics and selling pressure, alongside a liquidity shift toward top-cap cryptocurrencies (BTC and ETH), leaving other altcoins with lower risk appetite in the short term.
