Live markets: Bitcoin ETFs post a fifth straight day of inflows in a first since April
U.S. spot bitcoin exchange-traded funds posted net inflows for a fifth consecutive day on July 20, data from SoSoValue shows. The streak marks the longest run of daily inflows since late April and coincides with renewed investor interest after a quarter dominated by outflows.
The five-day sequence has added approximately $727 million to the products. Total assets held by spot bitcoin ETFs have risen to about $79 billion, climbing from a July low near $75 billion. On the same day, U.S. spot ether ETFs gathered roughly $38 million, led by BlackRock's ETHA, which accounted for about $34 million of the total.
Bitcoin has traded near $63,000 as the market stabilized following last week's technology-related selloff. The recent rebound in ETF inflows stands out as a shift in sentiment after a stretch of largely net withdrawals. Traders have been monitoring macroeconomic developments, including the Federal Reserve's upcoming policy meeting on July 28 and 29, and earnings reports from large technology companies such as Alphabet, Tesla, and Intel.
The persistence of ETF demand may reflect a view that bitcoin is increasingly treated as a macro risk asset, with price action often tracking movements in technology stocks and expectations around artificial intelligence spending. Over the past month, bitcoin has correlated with AI-related equities, and this week's earnings season could influence whether that trend continues.
For the spot ETFs, the return of sustained inflows after June's record outflows suggests institutional capital is re-engaging. Whether the current stretch extends depends on market conditions, regulatory signals, and the broader risk environment. As the Fed's meeting approaches, investors will look for clarity on interest rate policy and its potential impact on risk assets.
The rebound in ether ETF inflows, particularly into BlackRock's ETHA, indicates demand is not limited to bitcoin. As the ether market matures, the ability to access staking yields through traditional investment products has been a point of differentiation. However, net inflows have been smaller on average than those seen in bitcoin products, reflecting the relative scale of the two markets.
Overall, the data show that U.S. spot ETFs remain an important channel for institutional and retail exposure to cryptocurrency. The recent streak of inflows marks a change from earlier in the quarter, but it remains to be seen whether it can be sustained through the remainder of the summer.