Bitcoin ETF flows negative with $225 million outflow

On 23 July, significant outflows occurred from US spot Bitcoin ETFs. According to data from SoSoValue, the net outflow amounted to $225 million on that day. At the same time, spot Ethereum ETFs showed a positive picture with an inflow of $26.32 million. The Bitcoin price currently stands at $65K, a decline of 1.1% in the past 24 hours.

Bitcoin is available at OKX and Bybit.

Morgan Stanley and Fidelity Stand Out

Despite the general outflow from Bitcoin ETFs, some funds still ended the day positively. Morgan Stanley’s MSBT recorded the largest inflow on the Bitcoin side with $5.01 million. On the Ethereum side, the honours go to Fidelity’s FETH, which attracted $14.93 million on the same day.

The total net assets of all spot Bitcoin ETFs combined currently stand at $78.82 billion. That is significantly lower than the peak of over $169 billion reached earlier, as also visible in the SoSoValue chart. The outflow day of 23 July thus marks a fresh setback in a series of predominantly negative flow days in recent months.

Ethereum ETFs Seize Their Opportunity

While Bitcoin ETFs are under pressure, Ethereum ETFs are benefiting from positive inflows. The $26.32 million that came in on 23 July is modest compared with the Bitcoin outflows, but it shows that investors have not completely lost interest in Ethereum. Fidelity’s FETH is the clear leader in this regard.

The contrast between the two ETF markets is striking. While Bitcoin faces sustained selling pressure from ETF investors, Ethereum funds are managing to attract fresh capital. Whether this signals a trend reversal or merely a temporary shift remains to be seen. Analysts point out that the bear market for Bitcoin may persist until September or October, which partly explains the ETF outflows.