Spot Bitcoin ETFs in the US recorded inflows for the second consecutive week. Over the past week, the funds attracted $75.67 million, solidifying a reversal after a prolonged streak of outflows.
The turning point emerged a week earlier. From July 6 to 10, the funds turned positive for the first time in a long while, gaining $197.4 million. Inflows continued from July 13 to 17.
Before the reversal, the funds experienced a prolonged outflow. For eight consecutive weeks, investors withdrew funds from Bitcoin ETFs, with amounts sometimes exceeding $1.5 billion per week.
Last week, the daily picture was uneven. For instance, on July 13, the funds recorded an outflow of $424.66 million, the only negative day during this period.
After that, the flow turned positive. Data shows that on July 14, the inflow was $181.08 million, and on July 15, another $107.8 million.
The positive trend held through the end of the week. On July 16, the funds attracted $79.15 million, and on July 17, another $132.3 million.
In total, the inflows over these days offset the single outflow. This ensured the second consecutive weekly positive result, bringing the total net inflow into the funds to $51.35 billion.
What is happening with other ETFs
The inflow was not limited to Bitcoin. Over the past week, spot Ethereum ETFs also attracted notable funds.
ETH-based funds showed a weekly inflow of $105.44 million, thereby even surpassing Bitcoin funds in terms of capital attracted.
XRP-based funds also attracted significant interest. Data shows they drew in $6.78 million over the week.
Inflows into Solana-based funds were more modest, attracting about $948,210 over the same period.
However, not all assets remained in positive territory. HYPE token-based funds recorded an outflow of $7.26 million during the reporting period. For other cryptocurrency-based products, fund flows were zero over the last week.
My analysis: The two-week inflow into Bitcoin ETFs is not just a local correction but likely the start of a new accumulation cycle. Institutional investors apparently view current levels as attractive entry points, despite the recent correction. It is particularly telling that Ethereum ETFs are showing even higher inflow rates, which may indicate growing interest in diversifying crypto portfolios through regulated instruments.