Bitcoin ETFs Snap Two-Month Outflow Streak, But Monthly Inflows On Track To Hit Record Low
While monthly inflows remained subdued, July represented a recovery from the outflows seen in May and June. Bitcoin ETFs saw only $205 million in monthly inflows for July, marking a record low for the products. . .
While monthly inflows remained subdued, July represented a recovery from the outflows seen in May and June. Bitcoin ETFs saw only $205 million in monthly inflows for July, marking a record low for the products since launching in 2024. Hyperliquid ETFs reversed recent momentum with July outflows after strong inflows during May and June. Ethereum ETFs attracted approximately $342. 85 million in July, outperforming Bitcoin and other major crypto funds. Bitcoin (BTC) held steady before the $65,000 mark on Thursday, despite slowing demand for spot exchange traded funds (ETFs), helped by U. S. equities moving higher following strong results from Microsoft (MSFT). Bitcoin spot ETFs recorded just $205 million in net inflows in July, marking the weakest monthly inflow total since the products launched, according to data from SoSoValue. However, the uptick marks a recovery from the $2. 43 billion of outflows in May and $4. 52 billion in June. Total Bitcoin spot ETF net inflows since debut. Source:SoSoValueBitcoin’s price edged 0. 5% higher in the last 24 hours, trading at around $64,800 at the time of writing. On Stocktwits, retail sentiment around BTC remained in ‘bearish’ territory over the past day. The apex cryptocurrency has fallen around 26% so far this year and is trading nearly 50% below its record high of over $126,000 seen in October last year. HYPE ETFs See Reversal After Strong LaunchOn the other side, Hyperliquid (HYPE) ETFs saw a trend reversal with $13. 33 in monthly outflows after inflows of over $161 million in June and $132 million in their debut month of May. Total HYPE spot ETF net inflows since debut. Source:SoSoValueHYPE’s price fell over 2% in the last 24 hours, sliding lower for a third consecutive day, to around $53. The altcoin is now trading over 30% below its record high of over $76, seen just last month. Ethereum ETFs Outpace Bitcoin Funds In JulyWhile Bitcoin ETF demand slowed, Ethereum (ETH) funds attracted $342. 85 million in July, almost as much as in April. They outperformed Bitcoin and other crypto funds. XRP (XRP) ETFs are on track for a fourth consecutive month of inflows, while Solana ETFs saw inflows of around $13. 82 million. Ethereum and Solana edged 0. 8% higher in the last 24 hours. Ethereum’s price traded at around $1,900, while Solana’s price traded at around $74. XRP’s price moved around 0. 4% higher to $10. 80. The overall cryptocurrency market held steady at around $2. 29 trillion on Thursday morning, barely moving in the past 24 hours, despite the Fed delivering what some analysts described as a “hawkish” hold that might have argued for a decline. Read also:Robinhood CEO Says $1T Market Cap Goal Is Possible, But Analysts Remain Cautious Despite Q2 Earnings BeatStay updated with all the latestBusiness News, including market trends,Share Market News, stock updates, taxation,IPOs, banking, finance, real estate, savings, and investments. Track dailyGold Pricechanges, updates onDA Hike, and the latest developments on the8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download theAsianet News Official Appfrom theAndroid Play StoreandiPhone App Storeto stay ahead in business.