Bitcoin and Ether Rebound Loses Momentum as U.S. Spot Crypto ETFs See Net Outflows

The U.S. Securities and Exchange Commission cleared spot bitcoin exchange-traded products in January 2024, followed by spot ether funds that began trading that July, giving investors regulated brokerage access to the two largest cryptocurrencies. Daily creations and redemptions in products run by BlackRock, Fidelity, Grayscale and others have since become a key gauge of institutional demand and short-term risk appetite, particularly when crypto prices turn volatile.

On Wednesday, July 29, U.S. spot bitcoin ETFs posted $32.1 million in net inflows, ending four consecutive trading days of withdrawals. BlackRock’s iShares Bitcoin Trust (IBIT) led subscriptions, offsetting redemptions from Fidelity’s FBTC and the ARK 21Shares Bitcoin ETF (ARKB). Spot ether ETFs, by contrast, swung to $18.65 million in net outflows. The divergence came as bitcoin and ether edged lower, suggesting demand for bitcoin-linked funds recovered despite the modest pullback in token prices.

U.S. spot Bitcoin exchange-traded funds have become a key gateway for conventional investors seeking exposure to the cryptocurrency since their 2024 debut. Daily creations and redemptions are closely watched as a gauge of institutional demand and broader risk appetite. The reversal matters because the funds had just attracted nearly $1 billion over seven consecutive sessions, raising hopes that demand was stabilizing after an extended period of withdrawals.

The funds recorded $225.2 million of net outflows on July 23, 2026, according to SoSoValue, ending the seven-session inflow streak. BlackRock’s IBIT accounted for $202.5 million of the total, while Bitcoin briefly fell to $64,600 and the Crypto Fear & Greed Index dropped to 28, firmly in fear territory. Redemptions continued on July 24 with another $240.1 million withdrawn, bringing the two-day outflow to about $465.3 million, of which IBIT contributed nearly $415 million.

U.S.-listed spot Bitcoin and Ethereum exchange-traded funds give investors regulated exposure to the two largest cryptocurrencies through conventional brokerage accounts. Their creations and redemptions have become a closely watched gauge of institutional demand and risk appetite, particularly because U.S. products account for most global crypto ETF assets and trading volume. Daily flow data from SoSoValue can also show whether price moves are supported by fresh capital or driven mainly by trading in the underlying tokens.

SoSoValue data showed spot Ethereum ETFs posted $70.62 million in net outflows on Friday, July 24, ending a five-session run that had attracted $211.25 million since July 17. The funds nevertheless took in $103.9 million for the week, their third consecutive weekly gain. Spot Bitcoin ETFs lost about $465 million across July 23 and July 24, ending a seven-day inflow streak, but retained a $33.79 million weekly net inflow and likewise recorded a third straight positive week.

Spot cryptocurrency ETFs have become an important gateway for traditional institutional investors seeking exposure to digital assets, with fund flows offering a direct gauge of Wall Street’s risk appetite and confidence in cryptocurrencies. After several weeks of weak flows, the market has recently shown signs of a reversal. Daily net flows into and out of spot bitcoin and ether ETFs have therefore become key indicators of the crypto market’s short- and medium-term direction and institutional activity.

U.S. spot bitcoin ETFs recorded net outflows of $85 million on Wednesday, July 8, 2026, ending a three-day inflow streak, according to market data. Spot ether ETFs bucked the trend with $70.5 million in net inflows, marking a fifth consecutive trading day of gains. Fidelity Investments’ ether fund, FETH, was the main driver, attracting as much as $69.2 million in a single day and underscoring strong buying support.

U.S. spot Bitcoin ETFs are a key conduit for institutional capital entering and leaving the crypto market, and their fund flows are widely viewed as a gauge of risk appetite. SoSoValue data showed six consecutive weeks of redemptions brought cumulative net outflows to $5.94 billion. Tagus Capital said the slower pace of de-risking suggests demand is stabilizing but remains fragile.

A June 22, 2026, report showed U.S. spot Bitcoin ETFs recorded $228 million in net outflows the previous week, down from $315.84 million a week earlier and marking a second straight weekly slowdown. However, the U.S. two-year Treasury yield rose to 4.21%, its highest since February 2025. FactSet forecasts core PCE to rise 0.37% month on month and 3.4% year on year, while expectations of Federal Reserve rate hikes have emerged as a fresh headwind.

Hawkish signals from the U.S. Federal Reserve rapidly dimmed expectations for interest-rate cuts this year, prompting markets to reconsider even the possibility of a rate increase. Persistently high rates raise funding costs and reduce the appeal of risk assets. Flows into spot Bitcoin and Ether ETFs have therefore become an important gauge of crypto demand and the durability of the market’s rebound.

The latest data showed that U.S. spot Bitcoin and Ether ETFs recorded combined net outflows of $111 million on the Wednesday cited in the report. The withdrawals came as the Fed turned more hawkish and hopes for rate cuts evaporated, suggesting institutional investors were reducing their crypto exposure. The outflows also created a stronger headwind for the recent rebounds in Bitcoin and Ether prices.

US spot cryptocurrency ETFs have become a key channel for institutions allocating capital to digital assets, and their fund flows are often viewed as a gauge of market risk appetite. Bitcoin products command the most assets, but persistent redemption pressure on Grayscale’s legacy GBTC contrasts sharply with inflows into newer products from BlackRock and others.

On Monday, July 20, US spot Bitcoin ETFs recorded combined net outflows of $64 million, driven mainly by $124 million in net outflows from Grayscale’s GBTC. BlackRock’s IBIT still attracted $66 million in net inflows. Over the same period, spot ETFs for Ether, XRP, Solana and Hyperliquid all posted net inflows.

US spot Bitcoin and Ether ETFs give investors exposure to crypto assets through regulated funds. Their flows are also viewed as key gauges of institutional demand and market sentiment. Simultaneous withdrawals from products run by major asset managers such as BlackRock typically signal weakening risk appetite.

US spot Bitcoin ETFs recorded $290.4 million in net outflows on May 15, with six funds losing capital. BlackRock's IBIT accounted for about 47% of the total, or an estimated nearly $137 million. Spot Ether ETFs posted $65.7 million in net outflows the same day, marking their fifth consecutive trading day of losses.

The U.S. Securities and Exchange Commission approved the first spot Bitcoin ETFs in January 2024, allowing institutions including BlackRock and Fidelity to meet investor demand through regulated products. ETF flows have since become a key gauge of Wall Street’s risk appetite and the durability of Bitcoin’s rally.

The latest data show that U.S. spot Bitcoin ETFs recorded net outflows for three consecutive trading days, totaling more than $490 million. The withdrawals point to a short-term cooling in institutional buying and have raised doubts about the momentum behind BTC’s rally. Although high inflation and rising oil prices are weighing on risk assets, Bitcoin’s fixed supply cap of 21 million coins is still seen as supporting long-term demand.

The U.S. Securities and Exchange Commission approved the first spot Bitcoin ETFs in January 2024, followed by the launch of spot Ether ETFs in July that year, allowing institutions to gain exposure to the two largest crypto assets through regulated funds. ETF flows have consequently become a key gauge of Wall Street demand and market risk appetite.

SoSoValue data through the end of February 2026 showed that investors had withdrawn money from U.S.-listed products for four consecutive months since November 2025. Spot Bitcoin ETFs recorded net outflows of $6.39 billion, while spot Ether ETFs lost $2.76 billion, for a combined $9.15 billion. This marked the longest streak of monthly outflows for Bitcoin funds since their January 2024 debut.