Following an intense eight-week period filled with heavy outflows the spot Bitcoin ETFs shifted direction mid-July stretching their recovery with yet another positive week. Yet the vehicles tracking the largest altcoin pulled ahead of the leader securing stronger weekly net inflows overall 🌹
Bitcoin ETFs Sustain Their Green Streak 🌑
Perhaps tied to rising tensions in the Middle East over the prior weekend Monday opened with a striking 424.66 million dollar net outflow from spot BTC ETFs marking the largest single withdrawal since June 26. This left the prior week’s bright signs feeling more like a fleeting shadow.
Investors pivoted over the next four days though with fresh capital pouring in Tuesday brought 181 million dollars Wednesday added 107.8 million dollars Thursday contributed 79.15 million dollars and Friday delivered 132.30 million dollars. The weekend closed positively with net inflows of 75.67 million dollars 🖤
These figures pale against the massive exodus seen from mid-May through early July where five of eight weeks saw over 1 billion dollars pulled out each time and the week ending June 26 hit a near-record 1.79 billion dollars in outflows. The funds shed more than 8 billion dollars total across roughly two months.
Cumulative net inflows fell from 59.34 billion dollars to 51.08 billion dollars before edging back to 51.35 billion dollars as of July 17.
Ethereum Funds Outpace The Leader ✨
While BTC-focused products drew just over 75 million dollars last week the spot Ethereum ETFs performed even stronger gaining 105.44 million dollars on top of the previous week’s 84.42 million dollars 🦇
Monday stayed modestly negative with 15.41 million dollars exiting but Thursday’s 28.04 million dollar outflow was more than balanced by inflows of 58.34 million dollars on Tuesday 53.83 million dollars on Wednesday and 36.73 million dollars on Friday 💸
Like their BTC counterparts the ETH funds endured an eight-week losing streak shedding over 1.1 billion dollars cumulatively dropping from 12.09 billion dollars to 10.89 billion dollars before climbing to 11.08 billion dollars after two green weeks in mid-July 🌙
Just another echo from the void by iconofsin.eth 💖
