Bitcoin ETFs Log Third Straight Week of Inflows Despite Late-Week Outflows

Inflows into U.S. spot Bitcoin ETFs are picking up, but late-week selling and price swings suggest institutional demand is still measured.

Key Takeaways

• U.S. spot Bitcoin ETFs recorded net inflows for a third straight week, totaling $33.79 million in the week ending July 24.
• Heavy outflows on July 23 and 24 cut into the weekly gain, after $225.2 million and $240.1 million were withdrawn, respectively.
• Bitcoin moved from above $66,500 to below $64,000, while BRN said institutional demand is still cautious.

U.S. spot Bitcoin ETFs extended their streak of weekly inflows to three, but the rebound still looks shaky. For the week ending July 24, the funds brought in $33.79 million (€29.7 million), even as withdrawals late in the week sharply reduced the total. The result also marked the end of an eight-week run of outflows that began in mid-May.

Late Outflows Drag Down the Total

SoSoValue data shows that investors pulled about $225.2 million (€198 million) from the funds on July 23, followed by another $240.1 million (€211 million) the next day. Those two sessions wiped out much of the week’s earlier gains and left the final tally well below the prior two weeks, when inflows reached $197 million (€173 million) and $75.67 million (€66.5 million), respectively.

The numbers suggest institutional demand is returning, but only gradually. BRN said the market appears to be in a recovery phase after the heavy selling seen in May and June, while also noting that professional buying still does not look especially strong.

Bitcoin Keeps Swinging

The ETF inflows came during a volatile week for Bitcoin, which first pushed above $66,500 (€58,500) before falling back under $64,000 (€56,300). Profit-taking likely played a role, along with weakness in the U.S. stock market, where the Nasdaq 100 came under pressure from chip-focused funds that are often used as a read on the AI trade.

That backdrop matters for European crypto readers because U.S. spot Bitcoin ETFs have served as a key link between crypto and traditional markets since their approval in January 2024. After June’s sharp drop, when Bitcoin fell about 20 percent according to the provided context and ETFs saw record outflows, the current three-week inflow streak may point to a market trying to find its footing again, even if the pace remains modest. That lines up with the broader picture of a recovery that is still below earlier outflows, where money is coming back but not yet at a level that clearly signals a trend reversal.