The U.S. spot Bitcoin ETF market has finally seen a long-awaited reversal. During the trading week from July 6 to July 10, the total net capital inflow into these instruments amounted to $197.4 million. This figure marks the first positive result after eight consecutive weeks of continuous outflows that began in mid-May.
The period from May 11 to July 5 was a real test for ETF holders and issuers. Total losses over these eight weeks reached an impressive $8.26 billion. The heaviest weeks were June 22 to 26 (outflow of $1.79 billion) and June 1 to 5 (outflow of $1.72 billion). Logically, such prolonged selling pressure coincided with a correction in the price of Bitcoin itself. By the close of trading on July 10, the first cryptocurrency was valued at around $63,917, notably lower than the levels seen in late spring.
Despite the positive signal, it is too early to relax. The current inflow only symbolically breaks the negative trend. It is relatively modest compared to previous losses, and the total net assets of the funds ($77.42 billion) are still far from their historical highs recorded earlier this year.
Ether Leads Among Altcoins
The picture for other cryptocurrency ETFs over the same week was mixed but generally positive. The undisputed leader among altcoins was Ethereum: ETH ETFs attracted $84.42 million, making it the main beneficiary after Bitcoin.
Inflows into other funds were significantly more modest: Solana — $930.43 thousand, Chainlink (LINK) — $639.94 thousand, Hedera (HBAR) — $1.01 million, and Hyperliquid (HYPE) — $10.36 million. At the same time, some instruments still showed outflows: XRP ETFs lost $7.18 thousand, and Litecoin (LTC) ETFs lost $429.94 thousand.
Cryptalist Analytical Commentary: Breaking the eight-week outflow streak is an important psychological milestone. However, I view this more as a "test run" by institutional investors rather than a confident start to a new bullish cycle. The $197 million inflow volume is insufficient to offset multi-billion dollar losses. The market needs several consecutive weeks of sustained positive flow to confirm a trend change. For now, this is just a cautious signal, not a reversal.