Bitcoin ETF Inflows Sustain Three-Week Streak Amid $465M Late-Week Exit

Despite a massive $465 million exit from U.S.-listed Bitcoin ETFs in just two days, the funds still managed to post their third consecutive week of net inflows. The total net inflow for the week ended July 24 was $33.79 million.

This might sound like a convincing recovery story, but the math tells a more complicated tale. For one, the combined $465 million two-day outflow was enough to nearly erase the entire weekly gain.

The damage was concentrated in BlackRock's IBIT product, which accounted for nearly $415 million of those outflows. This suggests that the selling wasn't a broad-based rotation away from Bitcoin products but rather a sharp, targeted move likely tied to a specific macro trigger, namely concerns about potential U.S. Federal Reserve interest rate hikes.

The late-week selling was also reflected in weakness in chipmaker stocks, which pulled down the Nasdaq 100 and reinforced the broader risk-off mood that swept through markets.