Two months of investors heading for the exits, and now, two weeks of them coming back. US-listed spot Bitcoin exchange-traded funds posted net inflows for a second consecutive week, pulling in $75.7 million in the week ending July 18, following $197.4 million the prior week.
To understand why this matters, you need to know how bad the stretch before it actually was. Bitcoin ETFs shed more than $8 billion in net outflows across an eight-week period starting in early May. June alone saw approximately $4.5 billion walk out the door, making it a record monthly outflow since these products launched.
How the bleeding stopped
The turning point came around July 2-3, when a single-day inflow of $221.7 million interrupted a 10-day outflow streak that had totaled $2.73 billion.
The issuers driving the renewed interest are not exactly unknowns. BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB all contributed to the recent positive flow figures.
