Bitcoin ETFs Experience Third Consecutive Week of Inflows Despite Late Losses

BlackRock’s IBIT Product Led Outflows of Nearly $415 Million

Bitcoin exchange-traded funds (ETFs) experienced a notable inflow of $33.8 million over the past week, marking their third consecutive week of positive inflows, despite incurring late-week losses totaling $465 million.

The week ending July 24 saw U.S.-listed spot bitcoin ETFs achieve their first three-week inflow streak since early May. However, the last two days of the week were marked by significant outflows of approximately $225.2 million and $240.1 million on July 23 and 24, respectively, as reported by SoSoValue.

These late-week losses overshadowed earlier inflow successes, which had recorded $197 million and $75.67 million in the preceding two weeks. The overall inflow for the most recent week is the smallest compared to these previous weeks, indicating a cautious return of institutional interest in the bitcoin market.

Despite a recovery phase in July following substantial outflows in May and June, crypto analytics firm BRN noted that institutional demand remains hesitant. "After the substantial outflows in May and June, July's recovery phase has provided some relief, but institutional demand is still cautious," the firm stated.

Bitcoin's price fluctuated significantly, peaking above $66,500 on Tuesday before retreating to below $64,000 by week's end, influenced by profit-taking and a sluggish stock market, particularly in the chipmaking sector, often viewed as a barometer for the AI industry.