Bitcoin exchange-traded funds (ETFs) reported positive inflows for the third consecutive week, even as the final two days last week saw significant outflows totaling $465 million. This marked a pause in a seven-day streak of inflows that had bolstered these funds throughout July.
The inflows for the week ending July 24 amounted to $33.8 million, a modest gain compared to previous weeks that brought in $197 million and $75.7 million respectively. Outflows on July 23 and 24, primarily from BlackRock’s IBIT product, accounted for nearly $415 million of the total $465 million withdrawn during those days.
Institutional Demand Remains Tentative
After several months of heavy outflows dating back to mid-May, July’s inflow streak suggests a cautious return of institutional investors. However, the resurgence is far from strong, with crypto analytics firm BRN describing the demand as "anemic" rather than indicative of a solid bullish phase. Institutional buying has yet to reach the intensity seen in earlier bull markets.
Bitcoin itself rallied to a July peak above $66,500 on Tuesday but dropped below $64,000 by the week's close amid profit-taking and weak stock market performance. The Nasdaq 100, weighed down by chipmakers linked to the AI sector, contributed to this retreat.
This subdued momentum contrasts with the notable pressure on bitcoin caused by rising treasury yields, which have recently pressed its price near $64,000 thresholds.
This material is for informational purposes only and does not constitute financial advice.
