The cryptocurrency ETF market is showing a confident recovery. U.S. spot Bitcoin ETFs recorded inflows for the second consecutive week, finally cementing a trend reversal after a prolonged period of outflows. Over the past week, the funds attracted $75.67 million, confirming that investors are once again showing interest in the instrument.
The turning point emerged a week earlier. Between July 6 and 10, the funds turned positive for the first time in a long while, receiving $197.4 million. From July 13 to 17, the positive trend continued, albeit with less impressive figures. However, the key point is the very fact of sustained inflows, which signals a shift in sentiment among major players.
How flows changed day by day
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, which was the only negative during this period. Subsequently, the flow turned positive: on July 14, inflows amounted to $181.08 million, and on July 15, another $107.8 million.
The positive momentum 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, inflows over these days offset the single outflow. This ensured the second consecutive weekly positive result, with the cumulative net inflow into the funds reaching $51.35 billion.
What is happening with other ETFs
The inflows were not limited to Bitcoin. Over the past week, spot Ethereum ETFs also attracted notable funds. ETH-based funds posted a weekly inflow of $105.44 million, thereby even surpassing Bitcoin funds in terms of capital attracted. XRP funds also drew significant interest, attracting $6.78 million over the week. Inflows into Solana funds were more modest, at around $948,210 over the same period.
However, not all assets remained in positive territory. HYPE token funds recorded an outflow of $7.26 million during the reporting period. For other cryptocurrency-based products, fund flows over the last week were zero.
Expert comment: Sustained inflows into Bitcoin and Ethereum ETFs are a clear signal of the return of institutional capital. It is particularly telling that ETH funds surpassed BTC in terms of capital attracted: this could indicate a redistribution of interest towards altcoins amid expectations of the Ethereum network upgrade and growth in the DeFi sector. However, the persistent volatility and outflows from certain assets, such as HYPE, remind us that the market is still far from a full recovery.