Bitcoin ETFs Log Third Straight Week of Inflows Amid Late-Week Outflows

The U.S.-listed Bitcoin ETFs have experienced their third consecutive week of inflows, despite facing significant outflows in the latter part of the week. According to data from SoSoValue, these funds attracted $33.79 million in the week ended July 24. However, this figure would have been much higher if not for net outflows of around $225.2 million and $240.1 million on July 23 and 24 respectively.

The three-week inflows streak is the first since early May, with previous weeks seeing inflows of $197 million and $75.67 million. Crypto analytics firm BRN commented that institutional demand has returned, but it's 'anemic and not as powerful as typically observed during bull runs.'

Bitcoin reached a July high of over $66,500 on Tuesday before retreating below $64,000 by the end of the week, amid profit-taking and weak action in the stock market. The Nasdaq 100 was pulled down by chipmaker stocks, a bellwether for the AI industry.