Bitcoin ETFs barely attracted funds in July, accumulating just $205 million in net inflows. This figure sets a new low, barely recovering after the massive outflows of $2.43 billion in May and $4.52 billion in June, according to SoSoValue data.
Meanwhile, Ether ETFs have shown more resilience, drawing $342.85 million this month, close to their April numbers and surpassing bitcoin’s performance. Other tokens like XRP and Solana ETFs have seen modest inflows as well, with $13.61 million and $13.82 million respectively, but these amounts remain minor compared to their earlier volumes.
Institutional Demand Remains Tepid
These figures highlight a persistent lackluster institutional appetite for crypto ETFs despite some recent chatter about renewed interest. Ether’s relative strength aligns with its price movement, as the ether-to-bitcoin pair on Binance has gained 11% in July.
Price action has remained flat recently, even after the Federal Reserve delivered a hawkish hold on rates that might typically press prices downward. Marex analysts noted that bitcoin’s 200-week support level near $63,300 is critical; holding it signals strength, but dropping below $62,500 could trigger liquidations near $60,000.
Market Volatility on the Horizon
Volatility could spike soon as traders await U.S. core PCE inflation and GDP data releases. Investors will be watching closely for any shifts that could jolt the crypto markets.
This material is for informational purposes and not financial advice.
