US Spot Bitcoin ETFs See Inflows in July, Still Negative Year-to-Date
Quick Look
- US-listed spot Bitcoin ETFs recorded $172.4 million in net inflows in July, reversing two months of outflows, despite late-month selling.
- However, they remain negative year-to-date with $5.3 billion in outflows.
- Ether and XRP ETFs also saw positive inflows in July.
AI-generated summary
Why It Matters
US-listed spot Bitcoin exchange-traded funds (ETFs) attracted $172.4 million in net inflows in July, reversing two consecutive months of outflows. This occurred despite a volatile end to July, with a significant net outflow on the last Friday of the month.
US-listed spot Bitcoin exchange-traded funds (ETFs) finished July in the green despite a late-month wave of selling and BTC price volatility.
Bitcoin ETFs attracted a modest $172.4 million in net inflows in July, reversing two consecutive months of outflows, according to SoSoValue data.
The monthly inflows came despite a volatile end to July, as the funds logged a $265.4 million net outflow on Friday, marking their largest daily withdrawal since July 13.
July’s return to positive territory improved Bitcoin ETF flows after nearly $7 billion in combined outflows over the previous two months, including the largest monthly outflow of 2024 in June at $4.5 billion. However, the weak finish showed investors remained cautious heading into August.
Bitcoin ETFs remain negative in 2024 with $5.29 billion in outflows
Despite a modest net inflow in July, US-listed spot Bitcoin ETFs have recorded around $5.3 billion in net outflows year to date.
March, April and July were the only positive months of 2024, bringing in a combined $3.46 billion in inflows, while January, February, May and June posted outflows totaling about $8.75 billion.
Monthly spot Bitcoin ETF flows in 2024.
The products have still attracted $51.32 billion in cumulative net inflows since launch, while total net assets stood at $76.29 billion at the end of July.
Weekly flows turned negative at the end of the month after three consecutive weeks of inflows, with Bitcoin ETFs recording a $61.53 million outflow for the week ending July 31.
Ether ETFs end July with four-week inflow streak
While Bitcoin ETFs faced renewed selling pressure at the end of July, some altcoin ETFs maintained steadier inflows.
Ether ETFs stood out, posting four consecutive weeks of inflows and ending the month with a $365.2 million net inflow, according to SoSoValue.
The inflows marked the second month of positive flows for Ether ETFs year to date after April’s $356 million inflow. Despite the recovery, the products remained about $1.1 billion in net outflows year to date.
XRP ETFs also maintained steady demand, recording $27.3 million in July inflows and marking their fifth positive month of 2024. The products have recorded about $343 million in net inflows year to date, making them one of the stronger-performing crypto ETF categories this year.
Open Questions
- How will Bitcoin ETF flows perform in August?
- Will Bitcoin ETFs turn positive in year-to-date flows?
- Will altcoin ETFs continue their positive inflow trends?
