Spot Bitcoin ETFs wrapped up their third straight week of net inflows, but the momentum didn't last. After pulling in roughly $1 billion from July 14 to July 22, the funds saw $225.18 million in outflows on Thursday and another $240 million on Friday. Bitcoin, which had rallied to $67,000, got rejected there and slid to $64,000 by Friday.
A $1B week that fizzled
The week started strong. Bitcoin ETFs absorbed about $1 billion in fresh money between July 14 and July 22, riding a price surge that pushed Bitcoin to $67,000. That was the high point. By Thursday the tide turned, and the two-day outflow of $465.18 million erased a chunk of the earlier gains. The price followed suit, dropping 4.5% from the weekly peak to $64,000 by Friday's close.
It's the third consecutive week of net inflows for the category, but the late-week reversal raises questions about whether the buying spree has run its course — at least for now.
Ethereum ETFs buck the trend
Ethereum ETFs told a different story. The funds recorded net inflows of almost $104 million for the week, with only one day of outflows — $70.62 million on Friday. That single red day wasn't enough to flip the weekly total negative.
Ether itself surged past $1,900 mid-week and peaked at $1,950 before slipping to around $1,850 by Friday. The asset's relative strength compared to Bitcoin this week suggests investors are rotating into ETH after its recent underperformance.
Long-term flows paint a mixed picture
Zooming out, the numbers are less rosy for Bitcoin ETFs. Total net inflows since inception dropped from $59.34 billion to $51.08 billion as of July 2, after a negative streak that began in mid-May. That means the recent three-week inflow spree hasn't fully recovered the ground lost during the spring sell-off.
Ethereum ETFs, by contrast, have attracted over $200 million in net inflows over the past three weeks alone. That's a meaningful vote of confidence for a product class that launched to a lukewarm reception earlier this year.
The question now is whether the late-week outflows are a temporary pullback or the start of a broader reversal. Next week's flow data will offer the first clue.
