U.S.-listed Bitcoin exchange-traded funds (ETFs) are seeing renewed investor demand, but the latest streak of inflows has yet to provide enough momentum for a stronger recovery.
Bitcoin ETFs saw $75.7 million in net inflows for the week ending July 17, marking a second consecutive week of positive flows. according to to SoSoValue data.
The latest inflows follow net inflows of $197.4 million the previous week, bringing total ETF inflows for July to $200.2 million. U.S. spot Bitcoin ETFs saw net outflows of $4.5 billion in June, with total 2026 net flows still negative at $5.2 billion.
Monthly flows into US-listed spot Bitcoin ETFs since January. Source: SoSoValue
Analysts said the return of capital flows suggests selling pressure is easing, but the current pace of buying remains too limited to confirm a broader uptrend.
New uptrend requires Bitcoin to decisively surpass $65,000
The two-week streak of ETF inflows occurred as Bitcoin recovered toward $64,000 after falling from higher levels in June, but the move has not yet been strong enough to confirm a broader trend reversal, according to Simon-Peter Massabni, head of business development at XS.com.
Bitcoin must “decisively break through the $65,000 to $65,500 range” to confirm a new uptrend, Massabni told Cointelegraph, adding that the current rally “still lacks real strength.”
Crypto Fear and Greed Index. Source: Alternative.me
“Four consecutive sessions of inflows should be interpreted as a sign that selling pressure is easing, rather than clear evidence that institutional investors have returned in scale,” Massabni said, referring to daily ETF flow data from last week.
Citi Cuts 12-Month Bitcoin ETF Inflow Forecast from $10 Billion to Zero
Massabni also highlighted Citigroup’s recent revision of its Bitcoin ETF outlook, which reflects concerns about the strength of institutional demand.
On July 1, Citi cut its 12-month ETF inflows forecast from $10 billion to zero after weaker-than-expected flows and recent outflows. The bank also lowered its 12-month Bitcoin price target from $112,000 to $82,000.
Related: Prediction Markets Defy Crypto Slowdown With Record Q2 Volume: CoinGecko
“There is no shortage of reasons for the market to start buying Bitcoin,” Massabni said, adding that “what is still missing is a sufficiently powerful catalyst – most likely a sufficiently large and persistent capital flow to turn the current rebound into a real trend.”
Bloomberg ETF analyst Eric Balchunas compared the trajectory of Bitcoin ETFs with that of gold ETFs, noting that both products saw rapid adoption followed by prolonged periods of weaker performance.
Source: Eric Balchunas
In a post published Friday, Balchunas said Bitcoin ETFs could follow a similar pattern of “spectacular gains, declines, and painful recoveries,” with each cycle possibly reaching higher highs over time.
Review: Will the US get CLARITY this week? Bitcoin’s new $80,000 target: Hodler’s Digest, July 19
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