Bitcoin and Ethereum ETFs Record Significant Outflows on July 24

Spot Bitcoin and Ethereum ETFs took a significant hit on 24 July. According to data from SoSoValue, spot Bitcoin ETFs saw a total net outflow of $240 million on that day, while Ethereum ETFs also suffered, with an outflow of $70.62 million. For Ethereum, this is particularly painful: it breaks a streak of five consecutive days of positive inflows.

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Outflow puts pressure on the Bitcoin price

The negative ETF flows come at a time when the Bitcoin price is already under pressure. At the time of writing, Bitcoin is trading at $64.000, down 1.5% in the past 24 hours. The outflow of $240 million is comparable to earlier negative sessions seen over the past few weeks, although the total assets under management of spot Bitcoin ETFs remain substantial at $77.82 billion.

The SoSoValue chart clearly shows that the outflow day of 24 July fits a pattern of alternating red and green days. After a series of inflows earlier in July, sentiment has shifted again. Similar negative sessions were seen earlier, with the market either quickly recovering or sliding further.

Ethereum ETFs lose positive momentum

The outflow from Ethereum ETFs is smaller in absolute terms, but symbolically more striking. After five consecutive days of net inflows, $70.62 million is now flowing out. This suggests that investors are becoming more cautious, especially as the Ethereum price is not exactly moving euphorically either.

Whether this is a temporary setback or the start of a longer negative trend remains to be seen. Earlier, Bitcoin and Ethereum ETFs showed positive flows, with BlackRock in particular attracting significant capital. The coming days will show whether institutional investors return to the market or continue to wait.