The spot Bitcoin ETF market has finally seen a long-awaited reversal. After eight consecutive weeks of capital outflows, funds recorded a net inflow of $197.4 million from July 6 to 10. This event marks a shift in sentiment among institutional investors, who had previously been actively withdrawing funds from these instruments.
The preceding "bearish" streak was impressive in scale. Starting from the week of May 11-15, cumulative losses for Bitcoin ETFs amounted to approximately $8.26 billion. The heaviest weeks were June 22-26 (outflow of $1.79 billion) and June 1-5 (outflow of $1.72 billion). This entire period was accompanied by a correction in the BTC price, which, by the close of trading on July 10, stood around $63,917 — notably lower than the spring highs.
Nevertheless, the current inflow, although modest compared to the preceding losses, is an important psychological signal. It indicates that the bottom of the outflow may have already been reached, and investors are beginning to cautiously return to the asset. The total net assets of the funds stand at $77.42 billion, still far from the peak values at the beginning of the year.
Altcoins: Ethereum Leads, but Not Without Exceptions
The picture for other cryptocurrency ETFs over the same week was mixed, but generally positive. The main beneficiary after Bitcoin was Ethereum: spot ETH funds attracted $84.42 million, confirming its status as the second most important cryptocurrency for institutional capital.
Inflows into other altcoins were significantly more modest: Solana attracted $930,430, Chainlink — $639,940, HBAR — $1.01 million, and Hyperliquid (HYPE) — $10.36 million. At the same time, some funds showed outflows: XRP lost $7,180, and Litecoin (LTC) lost $429,940.
Cryptalist Analytical Commentary: The current inflow is an encouraging but not yet decisive signal. To confirm a trend reversal, we need to see sustained inflows for at least 2-3 consecutive weeks. For now, we are only observing a reaction to a local bottom, not a full-fledged reversal of institutional demand. The key driver for the next phase of growth will likely be the return of capital specifically to Bitcoin ETFs.