Overview
- U.S.-listed spot Bitcoin and Ethereum ETFs recorded two consecutive weeks of net inflows totaling about $273 million in the periods that included the week ending July 18, snapping an eight-week outflow streak that removed over $8 billion from the funds.
- BlackRock’s ETF suite drove much of the mid-July recovery, with IBIT, ETHA and ETHB drawing roughly $343 million across five trading days and IBIT alone netting about $204 million for the week.
- Reports indicate BlackRock’s IBIT met redemption demand by selling nearly 100,000 BTC and now holds just over 733,000 BTC, showing how single-fund behavior can quickly change spot supply.
- Exchange liquidity has eroded as well, with stablecoin reserves on major platforms falling by roughly $2.3 billion over 30 days, which leaves the market short on ready buy-side capital and more exposed to sharp moves.
- Analysts warn the return of flows is fragile because weekly inflows remain small versus prior redemptions, derivatives positions cluster near a $57,000 liquidation band, and upcoming macro and geopolitical events such as the July 28 Fed meeting could reverse the trend.