Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States recorded net inflows of $281.8 million in the trading week ending July 10, marking the first weekly positive flows since early May, according to data from SoSoValue compiled by The Block.
Bitcoin ETFs Recover After Record Outflow Streak
Bitcoin spot ETFs saw net inflows of approximately $197.4 million for the week of July 6–10, breaking an eight-week losing streak that had seen about $8.26 billion exit the products. That period was the longest negative run since the ETFs launched. The largest single-day inflow occurred on July 6, at $265.69 million, followed by a small inflow on July 7. However, July 8 and 9 saw combined outflows of $180.16 million, before inflows resumed on July 10 with $90.44 million.
The turnaround came after the U.S. jobs report for June, released on July 2, showed a slight cooling in the labor market. That eased fears that the Federal Reserve would tighten monetary policy aggressively, boosting risk assets. Additionally, a retreat in excessive geopolitical concerns over the Middle East and falling crude oil prices supported Bitcoin's price recovery from a low of $57,000 in early July to above $64,000 by the morning of July 11.
Ethereum ETFs Also Turn Positive
Ethereum spot ETFs recorded net inflows of about $84.4 million for the week ending July 10, their first positive weekly flow since the week ending May 8. The prior eight weeks had seen roughly $1.2 billion in outflows. During the latest week, inflows were recorded on four of the five trading days, with the largest on July 8 at $70.48 million. July 9 was the only day with outflows, at $52.08 million.
Recovery Still Modest Compared to Prior Losses
Despite the positive flows, the recovery remains small relative to the capital lost during the preceding eight weeks. Bitcoin ETFs recouped only about 2.4% of the capital that had exited, while Ethereum ETFs recovered roughly 7%. On-chain analytics firm CryptoQuant has cautioned that the broader market remains bearish, suggesting the recent rebound may be temporary.