U.S. spot Bitcoin exchange-traded funds extended their net inflow streak to a second consecutive week with $75.7 million in fresh capital, though analysts warned the pace remains insufficient to fuel a sustained price recovery, according to data from Farside Investors published Monday.
The 11 U.S.-listed spot Bitcoin ETFs collectively attracted $75.7 million in net inflows for the week ending July 18, extending a positive streak that began the prior week. However, the figure represents a sharp deceleration from the previous week’s $438 million and falls well short of the billion-dollar weekly inflows seen during the funds’ launch window in January.
“The inflow streak is encouraging but the magnitude is underwhelming,” said James Butterfill, head of research at CoinShares, in a Monday note. “We need sustained weekly inflows above $300–$500 million to generate meaningful upward pressure on Bitcoin prices. Current levels suggest tentative interest rather than conviction.”
BlackRock’s IBIT led the week with $89 million in inflows, while Fidelity’s FBTC saw $12 million in outflows. Grayscale’s GBTC continued its trend of steady outflows, shedding $41 million for the week. The remaining funds saw mixed flows, with several posting flat or marginally negative days.
Bitcoin traded near $64,200 on Monday, up roughly 3% on the week but well below the $73,000 all-time high reached in March. Analysts at JPMorgan noted in a recent report that ETF flow momentum has historically correlated with Bitcoin price action on a four-to-six-week lag, but the current pace suggests any sustained rally remains months away absent a macro catalyst.
“The ETF flow data confirms what price action has been signaling: demand is present but not urgent,” said Noelle Acheson, author of the “Crypto Is Macro Now” newsletter. “We’re in a wait-and-see phase pending clearer macro signals, particularly around U.S. interest rate policy.”
Trading volumes across the ETF suite averaged $1.2 billion daily last week, down from $1.8 billion the prior week, reinforcing the cautious sentiment. Options activity on IBIT showed a put-call ratio of 1.3, indicating defensive positioning among institutional participants.
Analysts said a sustained break above $68,000–$70,000 would be needed to trigger momentum-driven inflows, while a drop below $60,000 could trigger redemptions. The next Federal Open Market Committee meeting on July 30–31 is widely viewed as the next potential catalyst.
Source: Cointelegraph
