US-listed spot Bitcoin ETFs recorded net inflows for a second consecutive week this week, adding $75.7 million. The streak comes after a brutal eight-week outflow period that began in early May and saw more than $8 billion leave the funds.
The numbers
The $75.7 million figure for the second week is modest compared to the scale of the prior outflows, but the fact that inflows have now held for two weeks in a row suggests the selling pressure may be easing. The eight-week outflow streak that preceded it was the longest since the ETFs launched, wiping out a significant portion of the assets that had piled in earlier in the year.
What changed?
No single catalyst has been publicly identified for the reversal. Market participants have pointed to a stabilization in Bitcoin's price and a shift in macro sentiment, but no official statements from issuers or regulators have been released. The inflows are broad-based, with several funds seeing positive flows rather than a single dominant player.
The eight-week exodus that started in early May was driven by a combination of factors, including profit-taking after Bitcoin's rally to all-time highs and broader risk-off sentiment in traditional markets. The outflows exceeded $8 billion, making it one of the largest sustained withdrawals from the ETF category since its inception.
The week ahead
With two weeks of inflows now on the books, the key question is whether the trend can sustain itself. The next weekly flow data, due out next Monday, will be closely watched. If inflows continue, it could signal a broader return of institutional interest. If they reverse again, the recovery will look fragile.
