Key facts
- Bitcoin spot ETFs have recorded $205 million in net inflows in July.
- This is the lowest monthly inflow total on record for Bitcoin ETFs.
- Ether ETFs have attracted $342.85 million in July.
- XRP ETFs have seen $13.61 million in inflows.
- Solana ETFs have recorded $13.82 million in inflows.
Net inflows to U.S.-listed Bitcoin exchange-traded funds (ETFs) have fallen to $205 million in July, marking the lowest monthly total on record. This figure represents a significant slowdown compared to previous months, with May experiencing $2.43 billion in outflows and June seeing $4.52 billion in outflows.
Ether ETFs have performed more strongly, attracting $342.85 million in July, nearly matching April's performance and outperforming Bitcoin and other crypto funds. XRP ETFs are on track for their fourth consecutive month of inflows, totaling $13.61 million, while Solana ETFs have garnered $13.82 million.
The limited institutional appetite is further underscored by the ether-bitcoin pair's 11% surge this month. Despite the Federal Reserve's recent decision to hold interest rates steady, which some analysts interpreted as hawkish, neither Bitcoin nor Ether prices have shown decisive movement. Analysts at Marex noted that Bitcoin's price action around the 200-week moving average at $63,300 is a key indicator, with a loss of $62,500 potentially triggering bear targets around $60,000. Volatility is anticipated with the upcoming release of U.S. core PCE inflation and GDP data.