Bitcoin ETFs post third straight weekly inflows despite late-week losses of $465 million
Key Takeaways
- •Spot bitcoin ETFs posted $33.79 million in net inflows for the week ended July 24, marking a third consecutive week of gains.
- •Thursday and Friday brought $465.26 million in outflows, which ended a seven-day winning streak for the funds.
- •The latest weekly result was the smallest of the past three weeks after inflows of $197 million and $75.67 million in the prior two weeks.
- •BlackRock’s IBIT accounted for nearly $415 million of the outflows.
- •Bitcoin climbed above $66,500 during the week before slipping back below $64,000 as profit-taking and weaker equity markets weighed on prices.
Bitcoin ETFs saw $465.26 million in outflows on Thursday and Friday last week, ending a seven-day winning streak. Even so, the funds still recorded their third consecutive week of inflows, with gains of $33.8 million across the five trading days.
The modest weekly advance extends bitcoin ETFs’ slightly positive run through July, following eight consecutive weeks of outflows dating back to the week ended May 15.
The U.S.-listed spot bitcoin BTC $63,475.19 exchange-traded funds (ETFs) have now posted their first three-week inflows streak since early May. They attracted $33.79 million in the week ended July 24, according to data tracked by SoSoValue. That total would have been much larger if not for net outflows of about $225.2 million and $240.1 million on July 23 and 24, respectively.
Those late-week withdrawals also made the overall weekly figure the smallest of the past three weeks, following inflows of $197 million and $75.67 million in the previous two weeks, underscoring how quickly demand can shift when bitcoin price action turns choppy.
The vast majority of the activity was concentrated in BlackRock’s IBIT product, which accounted for nearly $415 million of the outflows.
The broader picture is that institutional demand has returned, but remains subdued and less forceful than is typically seen during bull markets. That matters for a market still working through a recovery after a prolonged stretch of redemptions, because ETF flow trends are one of the clearest gauges of how much traditional capital is staying engaged with bitcoin exposure.
“After May and June’s heavy outflows, July’s repair phase has brought relief, but institutional demand is still cautious,” crypto analytics firm BRN said in an email to CoinDesk.
Bitcoin rose to a July high of more than $66,500 on Tuesday before falling back below $64,000 by the end of the week amid profit-taking and weakness in equity markets. The Nasdaq 100 was dragged lower by chipmaker stocks, which are widely viewed as a bellwether for the artificial intelligence industry.
