Bitcoin's Monthly Surge Ends in Abrupt Reversal as Ethereum ETFs Extend Winning Streak

The past week saw varied fortunes for Bitcoin and Ethereum exchange-traded funds (ETFs) in the US. Despite ending the week in negative territory, Bitcoin ETFs posted a stronger performance for July with $172.4 million in net inflows.

However, this came to an abrupt end on the final trading day of the month, when Bitcoin ETFs recorded a sharp reversal and a net outflow of $265.4 million, marking the largest single-day withdrawal since July 13.

BlackRock IBIT led the outflows with around $122.7 million, followed by Fidelity with $54.8 million. Bitwise also took about $17.8 million, as Ark Invest followed closely with $17.5 million in withdrawals.

Ethereum ETFs, on the other hand, continued to attract fresh investments and extended their inflow streak to four consecutive weeks. The funds finished July with a net inflow of $365.2 million, marking only the second month of positive flows for Ethereum ETFs this year after April.