CryptoSlate
US spot Bitcoin ETFs posted $197 million in net inflows for the week ending July 10, their first positive week in more than two months, ending an eight-week run of net redemptions that had pulled more than $8 billion from the sector. The week opened strong with $265 million on Monday and added $21.4 million on Tuesday before reversing midweek with $84.8 million of outflows Wednesday and $95 million Thursday. Friday's $90.4 million rebound closed the five-day window in positive territory, according to SoSoValue data.
Spot Ethereum ETFs mirrored the move, ending the same week with $84.42 million in net inflows and breaking their own eight-week redemption streak. The parallel improvement across BTC and ETH products suggests investors have stepped back from aggressive de-risking, even as conviction around a sustained return remains thin.
Why it matters
The headline number understates the context. Ecoinometrics noted that Bitcoin holding near $64,000 looks out of step with the broader capital flight from the ETF sector, since a handful of positive-flow days have not yet offset eight weeks of redemptions. Digital asset intelligence firm Swissblock framed the shift as the end of "the most overwhelming ETF distribution wave of this bear market," while cautioning that accumulation remains weak and lacks robust institutional conviction.
The reading both firms converge on: this is a slowdown in selling, not a confirmed trend reversal. Several more weeks of consistent inflows are needed before investors can be said to be rebuilding exposure rather than briefly pausing their retreat.
Market impact
Bitcoin gained roughly 3% on the week to push past $64,000, with market observers eyeing the $65,000 level as the next technical reference. The price action is notable precisely because it has run ahead of the demand recovery: Ecoinometrics argues the real signal is not whether ETF flows turn positive for a day or two, but whether they remain positive long enough to reverse the broader trend in cumulative holdings. Until that test is passed, the rebound reads as a relief rally driven more by positioning and short-covering than by structural institutional bid.
Frequently asked questions
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Did Bitcoin ETFs actually see inflows last week?
Yes. US spot Bitcoin ETFs recorded $197 million in net inflows for the week ending July 10, ending an eight-week streak of net redemptions that had pulled more than $8 billion from the sector, per SoSoValue data.
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How did Ethereum ETFs perform in the same week?
Spot Ethereum ETFs mirrored the Bitcoin move, posting $84.42 million in net inflows and breaking their own eight-week redemption streak in parallel.
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Why is the Bitcoin price rising if ETF demand is still weak?
Ecoinometrics noted that Bitcoin holding near $64,000 looks out of step with the broader capital flight from the ETF sector. A handful of positive-flow days has not yet offset eight weeks of prior redemptions, suggesting the price rebound is running ahead of a confirmed demand recovery.
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What did Swissblock say about the ETF flow shift?
Swissblock called the move the end of "the most overwhelming ETF distribution wave of this bear market," while cautioning that accumulation remains weak and lacks robust institutional conviction.
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How many more weeks of inflows are needed to confirm a trend reversal?
Both Ecoinometrics and Swissblock indicated that several more weeks of consistent net inflows are required before investors can be said to be rebuilding exposure rather than simply pausing their retreat.
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