The final trading day of the preceding business week ultimately yielded a shift towards net inflows, contrasting the persistent outflows observed for spot Bitcoin ETFs in the United States. The products associated with the world’s largest altcoin experienced additional reasons for celebration by the week’s conclusion; however, they ultimately finished in negative territory. There is no necessity to embellish the final outcome – the week was unequivocally characterised by bearish sentiment. Investors withdrawing capital from spot Bitcoin ETFs have taken out $526.64 million over the course of the four-day trading week. This indicates that the persistent negative trend remains intact, as the products have not experienced a single positive week in nearly two months.
Within this timeframe, the total cumulative flows have decreased from $59.34 billion to $51.08 billion. On July 1, the funds experienced their highest daily withdrawals, totalling $294.62 million, as indicated by the data. Another $222.64 million was disbursed on June 30, while $231.10 million was allocated on June 29. That concludes the discussion on the negative aspects. The positive aspect was July 2. After 10 consecutive days of net inflows, the streak was interrupted as investors contributed $221.72 million. Moreover, this represented the highest single-day inflow recorded since May 5.
Friday was a non-trading day owing to the July 4 holiday, resulting in the week concluding on a more favourable note. The daily performance of the financial instruments tracking ETH exhibited even greater promise. The Ethereum ETFs experienced withdrawals of $30.04 million on June 29 and $27.60 million on June 30, reflecting a more subdued trend in investor activity during this period. However, the dynamics shifted during the subsequent two business days.
Investors allocated $14.89 million on Wednesday and $29.08 million on Thursday, indicating a near-monthly peak. Nevertheless, the week concluded with a decline, marked by total net outflows amounting to $13.67 million. Consequently, the negative trend of the Ethereum ETFs persists, marking eight consecutive weeks of declines. The total cumulative flows have decreased from $12.09 billion in early May to $10.89 billion as of Thursday.