The U.S. spot Bitcoin ETF market is showing a confident recovery. For the second consecutive week, funds have recorded net capital inflows, firmly cementing a trend reversal after a prolonged period of outflows. Over the past week, products received $75.67 million.
The turning point came a week earlier. Between July 6 and 10, funds turned positive for the first time in a long while, attracting $197.4 million. The current week (July 13–17) confirmed that this was not a one-time spike, but the start of a new accumulation cycle.
The eight-week streak of outflows, during which investors withdrew record sums from ETFs, sometimes exceeding $1.5 billion per week, is now behind us. We are now witnessing the classic return of "smart money."
Daily Dynamics: One Day of Outflows Didn't Ruin the Statistics
The intra-week picture was uneven, which is typical for a market in a reversal phase. On July 13, funds recorded a single outflow of $424.66 million, the only negative during the entire reporting period. However, on July 14, inflows recovered to $181.08 million, and on July 15, they amounted to $107.8 million.
Positive momentum continued at the end of the week: July 16 saw inflows of $79.15 million, and July 17 saw $132.3 million. Cumulatively, inflows over these days more than offset the single outflow, securing the second consecutive weekly gain. The total net inflow into funds since launch has reached $51.35 billion.
Ethereum Surpasses Bitcoin, XRP in Play, HYPE Under Pressure
Inflows were not limited to Bitcoin. Spot Ethereum ETFs recorded weekly inflows of $105.44 million, outperforming Bitcoin funds in this metric. This indicates growing institutional interest in altcoins, especially amid expectations of approval for a staking ETF.
XRP funds also attracted notable interest, drawing $6.78 million over the week. Inflows into Solana ETFs were more modest—around $948,210. However, not all assets stayed in positive territory: funds for the HYPE token recorded outflows of $7.26 million. For other crypto products, fund flows were zero.
My analysis: The return of capital to ETFs is a clear signal that major players view current Bitcoin levels as an attractive entry point. The interest in Ethereum is particularly telling, as it could become a new growth driver for the entire market. If this trend continues, we will see not just a corrective bounce, but a full-fledged rally supported by institutional demand.