U.S.-listed spot bitcoin exchange-traded funds closed the week ended July 24 with their third consecutive period of net inflows, totaling $33.79 million. The modest advance followed stronger results of $75.67 million and $197 million in the two prior weeks, marking the first three-week positive streak since early May after eight consecutive weeks of withdrawals.

Strong early-week demand pushed the category higher. The funds attracted $227 million on Monday, $203 million on Tuesday and $69 million on Wednesday. Momentum reversed sharply thereafter. Net outflows reached $225.2 million on Thursday and $240.1 million on Friday, for a two-day total of approximately $465 million. One data set put the combined exit closer to $475 million.

BlackRock Product Dominates Redemptions

BlackRock’s iShares Bitcoin Trust, known as IBIT, accounted for nearly $415 million of the late-week withdrawals. The concentration of selling in the largest and most liquid product pointed to institutional rebalancing rather than a broad retreat from the asset class. Other funds also saw pressure. Grayscale’s GBTC recorded $83.7 million in net outflows for the full week, while smaller products from WisdomTree and Franklin Templeton posted modest redemptions.

Several funds still finished the five days in positive territory. ARK 21Shares’ ARKB led with $78.1 million in inflows. Grayscale’s Bitcoin Mini Trust added $85.8 million, Fidelity’s FBTC drew $35.2 million, and newer entrants from Morgan Stanley and Bitwise also recorded gains. Despite the late selling, the category ended the week with roughly $77.8 billion in assets under management.

Ether Funds Outpace Bitcoin

Spot ether ETFs delivered a clearer performance, posting $103.90 million in net inflows for the same week—roughly three times the bitcoin total. Inflows arrived steadily across the first four sessions before tapering. XRP products added $8.15 million and Solana funds $7.2 million. Hyperliquid-linked vehicles moved the opposite way, recording $8.61 million in net outflows for a second consecutive week.

The divergence suggested selective institutional interest. Ether’s appeal extended beyond pure price exposure to activity in stablecoins, decentralized finance and corporate treasury use cases. Bitcoin’s weekly addition represented only about 0.04 percent of total assets, underscoring the cautious tone.

Macro Pressures Drive Reversal

The late-week selling coincided with renewed concerns over potential Federal Reserve interest-rate increases and weakness in technology shares. The Nasdaq 100 declined as chipmaker stocks fell, reinforcing a broader risk-off mood. Geopolitical factors also weighed on sentiment. Renewed U.S.-Iran tensions and elevated oil prices revived inflation expectations and supported higher bond yields.

Bitcoin itself climbed above $66,500 early in the week before retreating below $64,000 by Friday. By Monday morning it traded near $64,500 to $65,300. Year-to-date the cryptocurrency remains down more than 26 percent from its October record near $126,000.

Cautious Recovery After Prolonged Outflows

The three-week inflow streak follows an eight-week stretch of withdrawals that began in mid-May. July’s results therefore represent a repair phase rather than a decisive return of aggressive buying. Each successive week of gains has been smaller than the last, signaling decelerating momentum.

Earlier optimism around the Clarity Act market-structure legislation provided some support at the start of the period, yet it proved insufficient to offset macro-driven selling later in the week. Analysts described institutional participation as conditional and sensitive to near-term policy signals. The Federal Reserve’s next communications cycle and ongoing geopolitical developments are expected to shape the immediate path for fund flows.

Despite the outflows, price action held key support levels near $64,000 to $65,000 after rebounding from July lows around $58,000. Immediate resistance remains in the $66,000 to $67,000 zone. Market participants continue to monitor whether the modest inflow recovery can broaden or whether further redemptions emerge if rate-hike expectations intensify.