Spot Bitcoin ETFs in the US are showing a confident recovery in demand. Over the past week, net inflows totaled $75.67 million, reinforcing a trend reversal after a prolonged period of outflows.
The Bitcoin ETF market has finally emerged from a prolonged phase of inertia. The turning point was noted a week earlier: from July 6 to 10, funds showed positive momentum for the first time in a long while, attracting $197.4 million. From July 13 to 17, inflows continued, albeit at a less impressive pace.
How daily flows changed
Before the reversal, investors had been withdrawing funds from Bitcoin ETFs for eight consecutive weeks. Outflow amounts sometimes exceeded $1.5 billion per week. However, the picture of the past week was uneven.
On July 13, funds recorded the only negative day of the period, with an outflow of $424.66 million. But the very next day, the flow turned positive: on July 14, inflows amounted to $181.08 million, and on July 15, another $107.8 million. Positive momentum continued at the end of the week: on July 16, funds attracted $79.15 million, and on July 17, $132.3 million.
As a result, the total net inflow over these days more than offset the single outflow. This ensured a second consecutive week of positive performance. The total net inflow into funds since their launch reached $51.35 billion.
What's happening with other ETFs
Investor interest was not limited to Bitcoin. Over the past week, spot Ethereum ETFs also attracted notable funds. ETH funds showed a weekly inflow of $105.44 million, surpassing Bitcoin funds in volume.
Funds for XRP also generated noticeable interest, with $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. Funds for the HYPE token recorded an outflow of $7.26 million during the reporting period. For other cryptocurrency-based products, fund flows over the last week were zero.
My analysis: The recovery of inflows into Bitcoin ETFs is a positive signal, but it's too early to talk about a full-fledged bullish trend. Interest in Ethereum ETFs, which surpassed Bitcoin in inflows, may indicate a shift in investor attention to altcoins in anticipation of new growth drivers. The outflow from HYPE is a reminder of the selective approach persisting in the market.