Bitcoin ETFs Rebound with Third Straight Week of Inflows

U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) have posted their third consecutive week of inflows, a welcome change after massive outflows in June.

The three-week streak of net inflows is the first since early May, with a dozen funds listed in the U.S. attracting $33.79 million in net inflows for the week ended July 24, according to data from SoSoValue.

In contrast to June, when Bitcoin ETFs saw net outflows of $4.5 billion as the price of BTC fell to $58,000, institutional demand is returning, albeit at a softer pace than in the past.

The increase in inflows has helped push the price of the largest cryptocurrency back above $65,000 over the last week, despite a sharp selloff in technology stocks and a two-week losing streak for U.S. equity markets.