Bitcoin ETFs See Three-Week Inflow Streak as Market Remains Fragile Before Fed Decision

The streak of net inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) has reached three weeks, but the market remains fragile. According to data tracked by SoSoValue, the week ended July 24 closed with $33.79 million in net inflows across all US spot Bitcoin funds.

This is the first sustained positive run since early May, reversing a period that included a 13-day outflow streak from May 15 to June 3 that drained $4.4 billion from the complex. Across all of 2026, US spot Bitcoin ETFs remain in the red by $4.76 billion in net outflows.

Meanwhile, options traders have been dismantling their defensive hedging positions built up during June's sell-off. The put/call open-interest ratio has dropped to roughly 0.52 as of July 24, down from about 0.76 in late June, according to Glassnode.

The market is now unusually exposed heading into the Federal Reserve's rate decision on Wednesday, with near-term options protection at its thinnest all year. A hawkish Fed statement or an unexpectedly pointed press conference by Chairman Kevin Warsh could trigger institutional ETF redemptions and produce a price drop.