Bitcoin ETF attracts $222 million after 10 days of outflows

Bitcoin spot ETFs are finally showing positive figures again. After ten consecutive days of net outflows, on 2 July (ET) as much as $222 million flows back into the market. At the same time, Ethereum spot ETFs recorded a net inflow of $29.08 million. A welcome turnaround after a difficult period for institutional crypto products.

Bitcoin is available at OKX and Bybit.

End of a worrying streak

For ten days, money flowed out of Bitcoin spot ETFs. That put pressure on the market and fuelled concerns about the interest of large investors in crypto. Earlier this week, the Bitcoin ETF lost another $295 million, further reinforcing the negative trend. The inflow of $222 million on 2 July breaks that streak and sends a positive signal to the market.

The total net assets of all Bitcoin spot ETFs currently stand at $74.37 billion. This shows that despite the recent outflows, the total invested capital is still substantial. The Bitcoin price stands at $61.601, an increase of 1.9% over the past 24 hours.

Ethereum follows Bitcoin in the right direction

The Ethereum spot ETFs also show positive flows on the same day. With a net inflow of $29.08 million, it is not as spectacular as for Bitcoin, but it is a sign that institutional interest in crypto is broader than just Bitcoin. Earlier, Bloomberg wrote about the growing institutional adoption of Ethereum, and the inflow into the ETFs ties in well with that.

Whether this turnaround is the start of a new positive trend or merely a temporary rally remains unclear. The Bitcoin futures are already heating up, but the spot market remained relatively neutral until recently. The coming days will provide more clarity on whether large investors are now structurally returning to the market or whether it is just a one-off inflow.