US Spot Bitcoin ETFs Record First Weekly Inflow in Over Two Months, but Demand Remains Weak
US spot Bitcoin exchange-traded funds (ETFs) recorded their first weekly net inflow in more than two months, attracting $197 million across 13 ETF products.
The inflows ended an eight-week streak of net outflows that drained more than $8 billion from the Bitcoin ETF market.
As capital returned, Bitcoin gained around 3% over the week, climbing above $64,000 as traders turned their attention to the $65,000 level.
Bitcoin and Ethereum ETFs See Fresh Inflows
According to SoSoValue, spot Bitcoin ETFs started the week ending July 10 with $265 million in net inflows on Monday, followed by another $21.4 million on Tuesday.
The trend briefly reversed in the middle of the week, with net outflows of $84.8 million on Wednesday and $95 million on Thursday. However, ETFs rebounded on Friday with $90.4 million in net inflows, allowing the week to close in positive territory.
Spot Ethereum ETFs followed a similar pattern, ending their own eight-week streak of net outflows. Ethereum ETFs recorded $84.42 million in weekly net inflows, reflecting a broader recovery across crypto investment products.
The improvement in both Bitcoin and Ethereum ETFs suggests investors are becoming less aggressive in reducing their exposure to digital assets.
Digital asset intelligence firm Swissblock said the largest ETF distribution wave of the current bear market has likely ended. The firm added that Bitcoin’s capitulation risk continues to ease, allowing spot ETF flows to turn slightly positive again.
Demand Still Lacks Strength
Despite the positive inflows, analysts caution that one week of gains is not enough to confirm a lasting return of institutional demand.
Digital asset research firm Ecoinometrics noted that Bitcoin holding near $64,000 is surprising, considering the ETF sector recently experienced significant capital outflows.
According to the firm, Bitcoin’s price has recovered faster than investor demand. A few days of positive ETF inflows have not yet offset the heavy outflows seen over the previous eight weeks.
Ecoinometrics said the key signal is not whether ETF flows turn positive for a day or two, but whether they remain positive long enough to reverse the broader decline in ETF holdings.
Swissblock shares a similar view, saying current Bitcoin accumulation remains relatively weak and does not yet reflect strong institutional conviction.
As a result, the latest inflows suggest selling pressure is easing rather than confirming a full trend reversal. Bitcoin ETFs will likely need several more weeks of consistent inflows before it becomes clear that investors are rebuilding their exposure to Bitcoin.
