US-listed cryptocurrency spot ETFs continued to see net inflows in July, but the scale of the inflows was not strong. According to SoSoValue data, Bitcoin spot ETFs have attracted only $205 million in net inflows so far this month, indicating that institutional funds are still returning in a limited manner.
Bitcoin inflows remain weak
Despite several consecutive days of net inflows during the month, the recovery of Bitcoin spot ETFs was weak overall. Net outflows of $2.43 billion and $4.52 billion occurred in May and June respectively, and while July saw a return to positive growth, the scale was significantly insufficient.
- Bitcoin spot ETFs saw net inflows of $205 million in July.
- Net outflow of $2.43 billion in May
- Net outflow of $4.52 billion in June
Ethereum attracts more funds
Ethereum spot ETFs have outperformed during the same period, with net inflows of $342.85 million so far in July, close to April levels and better than Bitcoin and most other crypto funds. XRP-related ETFs are on track for their fourth consecutive month of net inflows, but the amount is only $13.61 million, compared to $13.82 million for the Solana ETF.
CoinDesk noted that Ethereum has shown strong fund performance, consistent with its price movement relative to Bitcoin. The ETH/BTC trading pair on Binance has risen approximately 11% this month.
Markets are focused on US data.
Over the past 24 hours, neither Bitcoin nor Ethereum prices have shown a clear direction. Following the Federal Reserve's decision to keep interest rates unchanged, which some analysts interpreted as hawkish, crypto assets have not experienced a significant decline.
The market will now focus on US core PCE inflation data and GDP figures. If these data lead to changes in interest rate expectations, it could drive up volatility in crypto assets.
