Bitcoin ETFs Defy Late-Week Pressure to Record Another Week of Net Inflows

BlackRock’s IBIT fund drove most of the selling activity, accounting for almost $415 million of the overall outflows.

U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) have now posted three consecutive weeks of net inflows, marking their first such streak since early May.

The funds recorded $33.79 million in inflows during the week ending July 24. However, the weekly result was heavily reduced by significant withdrawals near the end of the period, with investors pulling approximately $225.2 million on July 23 and another $240.1 million on July 24, based on SoSoValue data.

The late-week redemptions made this week’s inflow figure the weakest of the three-week streak, following stronger weekly gains of $197 million and $75.67 million in the previous two periods.

The data points to a gradual return of institutional interest in bitcoin, though the level of demand remains limited compared with the stronger inflows typically recorded during major crypto bull markets.

“Following the heavy outflows seen in May and June, July’s recovery phase has provided some relief, but institutional demand remains cautious,” crypto research firm BRN said in an email to CoinDesk.

Bitcoin reached a July high above $66,500 on Tuesday before sliding back below $64,000 by the end of the week. The pullback came as investors took profits and broader stock markets weakened, with the Nasdaq 100 affected by declines in semiconductor shares, a major indicator for the artificial intelligence industry.