Bitcoin ETF Inflows Slow as BlackRock Sees $415M in Redemptions

US-listed spot bitcoin ETFs continued their streak of positive weeks, but momentum is slowing. For the week ending July 24, they netted $33.79 million in net inflows, a third consecutive green week not seen since early May.

This marks a small gain compared to the previous two weeks, with $197 million and $75.67 million in net inflows respectively. The crypto analytics firm BRN noted that while this is a relief after heavy outflows in May and June, institutional demand remains cautious.

The momentum erodes each week, with $465 million in outflows recorded on Thursday and Friday of the same week, mainly through BlackRock's IBIT fund, which saw nearly $415 million in redemptions.