Key facts
- US-listed spot Bitcoin ETFs saw $75.7 million in net inflows for the week ending July 17.
- This marks the second consecutive week of positive flows, following $197.4 million in the prior week.
- The total inflows over these two weeks reached $273 million.
- This follows an eight-week period of outflows totaling over $8 billion.
- Analysts caution that current inflows are insufficient to confirm a sustained uptrend.
US-listed spot Bitcoin exchange-traded funds (ETFs) have experienced a second consecutive week of inflows, totaling $75.7 million for the week ending July 17. This follows $197.4 million in inflows the previous week, bringing July's total to $200.2 million. These positive flows come after a significant eight-week period of outflows that saw more than $8 billion withdrawn from Bitcoin ETFs. Analysts suggest that while the return of inflows indicates easing selling pressure, the current pace is insufficient to confirm a broader uptrend or a sustained return of institutional demand. Bitcoin needs to decisively break above the $65,000–$65,500 range to signal a new uptrend. Citigroup recently revised its 12-month Bitcoin ETF inflow forecast from $10 billion to zero and lowered its price target to $82,000, reflecting concerns about institutional demand strength. The trajectory of Bitcoin ETFs is being compared to that of gold ETFs, which also saw rapid adoption followed by periods of weaker performance.