Bitcoin ETFs post third straight weekly inflows despite $465 million in late-week losses

Bitcoin exchange-traded funds (ETFs) experienced $465.26 million in outflows during Thursday and Friday last week, ending a seven-day streak of gains. Despite these late-week losses, the ETFs still posted their third consecutive week of net inflows, totaling $33.8 million for the entire week ended July 24. This marks the first three-week inflow streak for U.S.-listed spot bitcoin ETFs since early May, following eight straight weeks of outflows beginning in mid-May.

The inflows last week were relatively modest compared to previous weeks, with earlier days showing stronger positive flows. According to data from SoSoValue, outflows on July 23 and 24 were approximately $225.2 million and $240.1 million respectively, which reduced the total weekly net inflow. The total inflow week-over-week was also smaller than the $197 million and $75.67 million inflows recorded in the prior two weeks.

Crypto analytics firm BRN characterized the current demand as cautious, noting that while July has brought a repair phase after heavy outflows in May and June, institutional interest remains subdued and not as strong as typically seen during bull markets. Bitcoin’s price rose to over $66,500 on Tuesday of last week but retreated below $64,000 by the weekend amid profit-taking and weak stock market performance, particularly in the Nasdaq 100, influenced by declines in chipmaker stocks linked to the AI sector.