Eight Weeks of Tears, One Week of Cheers: Bitcoin ETFs Finally Remember How to Inflow 😮‍💨

U.S. spot Bitcoin ETFs closed their first positive week since May, drawing roughly $197.4 million in net inflows and snapping an eight-week streak of weekly outflows dating back to May 11, according to Farside Investors data. The week before had seen about $527 million in net withdrawals. BlackRock's iShares Bitcoin Trust ETF led the buying with $291.9 million in inflows for the week, while the Grayscale Bitcoin Trust ETF, the Fidelity Wise Origin Bitcoin Fund and the ARK 21 Shares Bitcoin ETF posted offsetting outflows. The $197.4 million weekly haul was modest compared with the $8.26 billion investors had pulled out since May 11, and was followed on Monday by $424.66 million in net outflows, the largest single-day withdrawal in July so far, according to SoSoValue.

The week's flows were front-loaded and volatile. Bitcoin ETFs opened with a $265.7 million inflow on Monday and added $21.5 million on Tuesday, then gave back $84.9 million on Wednesday and $95.3 million on Thursday during the Iran escalation, before closing Friday with a $90.4 million inflow. BlackRock's IBIT led both green sessions, adding $209.4 million on Monday and $86.8 million on Friday. $BTC rebounded to $64,000 on the back of the flows before retracing to just under $63,000 overnight, and was trading at $62,589 at publishing time, roughly 30% below its level at the start of the year, according to CoinGecko data.

U.S. spot Ether ETFs ended their own eight-week losing streak in the same window, pulling in $84.42 million for the week ended Friday, led by BlackRock and Fidelity's Ether funds. The combined haul across both products came to roughly $282 million. Ether ETF inflows remain small against the $1.2 billion in net outflows from the funds since May 11.

Spot Bitcoin ETFs continue to hold significant investor assets, with total net assets of $74.79 billion and cumulative net inflows of $50.85 billion as of Monday, a milestone the funds first crossed in July 2025, about 18 months after their January 2024 launch. Year-to-date, the products have recorded roughly $5.8 billion in net outflows, with June marking the largest monthly net outflow in history at $4.51 billion.

Industry watchers split on what the snapback means. Monochrome Asset Management founder and CEO Jeff Yew said the timing aligns with growing institutional confidence around potential passage of the CLARITY Act in August, telling Cointelegraph that "while one week of inflows doesn't define a trend, it comes at a time when institutional confidence is growing around the potential passage of the CLARITY Act in the US in August next month" and that the flows "could be an early indication that institutions are beginning to position ahead of greater regulatory certainty, which is often what long-term capital allocators look for." 10x Research founder and CEO Markus Thielen countered that ETF and stablecoin outflows, plus August and September seasonality, remain headwinds, noting "there's also been a pattern over the past few months where Bitcoin performs better in the first half of the month, then consolidates in the latter half." Real Vision chief crypto analyst Jamie Coutts said he thinks the market is "getting through most of the bear market action" and is "approaching at least the second half," while Hilbert Capital CIO Russell Thompson said $BTC could hit a low around October. CryptoQuant analyst Sunny Mom wrote that "a definitive, broad-based market bottom has yet to been confirmed," pointing to nearly $10 billion in outflows from US spot Bitcoin ETFs since Oct. 11, 2025, alongside continued growth in the number of new Bitcoin whales. With Tuesday's CPI print marking the last major data point before Kevin Warsh's July 28–29 FOMC meeting, the next set of ETF flows will offer the first read on whether last week's green streak has staying power.