Bitcoin ETFs Extend Winning Streak as Weekly Inflows Hold Despite Heavy Outflows

The majority of the outflows came from BlackRock’s IBIT fund, which accounted for nearly $415 million of the total withdrawals.

U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) recorded their first three consecutive weeks of net inflows since early May.

The funds attracted $33.79 million in net inflows during the week ending July 24. However, the total would have been significantly higher without late-week withdrawals of approximately $225.2 million on July 23 and another $240.1 million on July 24, according to data from SoSoValue.

Those final-day outflows reduced the weekly inflow figure to its lowest level compared with the previous two weeks, which recorded inflows of $197 million and $75.67 million, respectively.

The broader picture suggests institutional interest in bitcoin has returned, but the pace remains modest and far weaker than the demand typically seen during major market rallies.

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

Bitcoin climbed to a July peak above $66,500 on Tuesday before falling back below $64,000 by the end of the week. The decline came as investors took profits and equity markets weakened, with the Nasdaq 100 pressured by falling semiconductor stocks, a key indicator for the artificial intelligence sector.