Between July 6 and July 10, U.S. spot Bitcoin ETFs experienced net inflows of $197 million, marking the end of an eight-week outflow period. The inflow on July 6 reached $265.7 million, the highest figure since early May, with BlackRock's IBIT ETF leading the charge at $209.4 million.
Despite the initial surge, inflows diminished significantly on July 7, dropping to $21.5 million. IBIT contributed $54.8 million, while Fidelity's FBTC saw outflows of $24.9 million. This fluctuation indicates a volatile environment for investors, with Bitcoin's price fluctuating between $63,650 and $64,400 during this period, finally settling at $62,758.75.
Shifts in ETF Momentum
On July 8, the ETF landscape reversed again, with withdrawals totaling $84.9 million. This trend continued on July 9, when outflows increased to $95.3 million. However, inflows rebounded on July 10, with an additional $90.4 million entering the market, demonstrating the erratic nature of investor sentiment.
Overall, IBIT recorded $351 million in inflows over the week, while Grayscale's GBTC faced the largest outflows at $108.2 million, followed closely by FBTC with $103.1 million. The correlation between Bitcoin's price fluctuations and the movement of ETF inflows remains uncertain, raising questions about what drives these investment decisions.
Altcoin ETF Performance
While Bitcoin ETFs showed positive inflows, Ethereum ETFs mirrored this trend, reporting net inflows of $84.42 million and also breaking an eight-week outflow streak. The only day of net sales for Ethereum was July 9, when $52.08 million was offloaded as the price dipped to $1,748.
Similar to Bitcoin, BlackRock's ETHA led in inflows for Ethereum, while Fidelity's FETH experienced the largest outflows. Meanwhile, XRP ETFs saw net outflows of $7.18 million, contrasting with inflows from Hyperliquid ETFs at $10.36 million and Solana ETFs at $930,400.
This material is for informational purposes only and should not be considered financial advice.
