U.S. spot Bitcoin [BTC] ETFs recorded net inflows of $197 million between the 6th and 10th of July, breaking an eight‐week outflow streak. On the 6th of July alone, ETFs posted $265.7 million in inflows, the largest since early May.
BlackRock’s IBIT led with $209.4 million in inflows that day, while Grayscale’s GBTC posted the largest outflows at $44.5 million. However, on the 7th of July, the inflows dropped to $21.5 million, with IBIT contributing $54.8 million and Fidelity’s FBTC seeing $24.9 million in outflows.
ETF momentum shift analysis
On the 8th of July, BTC ETFs shifted back to outflows, with $84.9 million in withdrawals. Similarly, on the 9th of July, outflows further rose to $95.3 million. On the 10th of July, however, inflows resumed, with BTC ETFs seeing an influx of $90.4 million.
Thus, with $351 million in inflows, IBIT triumphed over the past week, while GBTC recorded the highest outflows of $108.2 million, followed by FBTC with $103.1 million. While ETF flows shifted, Bitcoin’s price swung between $63,650 and $64,400 before settling at $62,758.75 as of writing.
However, the volatility was insufficient to show whether the price was being driven up by the ETFs or whether the price was the factor that caused ETFs to move from outflows to inflows.
Did other altcoin ETFs mirror BTC ETFs?
While Bitcoin ETFs experienced inflows, Spot Ethereum [ETH] ETFs saw a similar pattern, with net inflows of $84.42 million, ending eight weeks of outflows. The only day with net sales was the 9th of July, when investors offloaded $52.08 million as Ethereum fell to $1,748.
In this case as well, the highest inflows were seen by BlackRock’s ETHA, while the highest outflows were recorded by Fidelity’s FETH. Lastly, XRP ETFs reported $7.18 million in net outflows, whereas HYPE ETFs and Spot Solana [SOL] ETFs both managed to log $10.36 million and $930,400 in inflows, respectively.
Final Summary
- Bitcoin ETFs finally broke their 8-week outflow streak, but the price action was still screaming bearish noises.
- Except for XRP ETFs, other altcoins, including Ethereum, Hyperliquid, and Solana ETFs, recorded inflows.
