Key Highlights
- Bitcoin ETFs recorded $33.79 million in weekly inflows despite losing $240.08 million on July 24.
- Ethereum ETFs recorded about $103 million in weekly inflows, despite a $70.7 million outflow on Friday.
- Crypto ETFs still ended the week positive, with Bitcoin, Ethereum, Solana, and Dogecoin ETFs attracting more money than they lost overall.
U.S. crypto exchange-traded funds (ETFs) ended the week on a positive note, even after Bitcoin ETFs recorded $240.08 million in net outflows on July 24.
According to data from Farside Investor, U.S. spot Bitcoin ETFs recorded $33.79 million in total inflows for the week. Ethereum ETFs followed with about $103 million, while Solana ETFs recorded approximately $7.20 million in inflows.
Dogecoin ETFs also attracted around $345,000. However, HYPE ETFs moved in the opposite direction, recording about $1.72 million in outflows.
Two days of outflows end Bitcoin’s winning streak
The weekly result came after a sharp change in Bitcoin ETF flows on Friday. Investors pulled $240 million from U.S. spot Bitcoin ETFs on July 24, after a $225.1 million withdrawal on Thursday, ending a seven-session run of daily inflows.
Before the withdrawals, the funds had attracted nearly $1 billion in fresh money over the previous seven trading sessions.
This also happened while Bitcoin itself fell to around $64k as traders retire for the weekend. The asset is currently trading for $64,340, still up 0.65% in a week, according to data from CoinMarketCap.
BlackRock’s iShares Bitcoin Trust (IBIT) led Friday’s outflows with the number, recording $212.2 million leaving the fund. Fidelity’s FBTC lost $27.9 million, while several other funds ended the day with no net flows.
Bitcoin ETF demand recovers after heavy redemptions
However, this did not stop the recovery in Bitcoin ETF demand. The funds had already recorded a four-day inflow streak from July 14 to July 17, bringing in several hundred million dollars. BlackRock’s IBIT led much of that buying, contributing $139 million to the $181 million total inflow recorded on July 14.
The return of positive flows followed an eight-week period of heavy redemptions that drained roughly $8 billion from U.S. spot Bitcoin ETFs earlier in the summer. Since their launch, the funds have attracted $51.63 billion in cumulative net inflows and now manage about $78.82 billion in assets.
Ethereum ETFs also see outflows after strong inflows
Ethereum ETFs also lost some money. On July 24, Ethereum ETFs also recorded a $70.7 million outflow on Friday.
It was led by BlackRock’s ETHA with around $52.8 million in funds, while Fidelity’s FETH followed with $27.8 million. Grayscale ETH was the only fund to see an inflow of $9.9 million.
Meanwhile, the funds recorded a $26.3 million inflow on July 23, with Fidelity pulling in $14.9 million in funds. BlackRock’s ETHA followed closely with around $8.5 million in inflows, while its other fund ETHB brought in its first inflow for the week, around $2.9 million.
The funds saw their biggest inflow on July 22, when they recorded around $72 million in one single day thanks to BlackRock’s $53.5 million inflow.
Overall, the week ended with crypto ETFs still attracting more money than they lost. Bitcoin’s late-week outflow stood out, but strong weekly inflows across Bitcoin, Ethereum, Solana, and Dogecoin ETFs kept the broader crypto ETF market in positive territory.
Also Read: Bitcoin Price Approaches Potential Cycle Low as Rare Oversold Signals Align
