Morning Minute — Tyler Warner (opinions his own; not necessarily Decrypt’s)
Good morning. After weeks of steady withdrawals, U.S. spot Bitcoin and Ethereum ETFs finally flipped back to inflows, offering a welcome — if modest — reprieve for institutional demand.
Key takeaway
- U.S. spot Bitcoin ETFs closed their first positive week since May, taking in roughly $197 million net after bleeding about $527 million the prior week.
- Ethereum ETFs also turned positive, drawing roughly $84 million after a small net outflow the week before.
- Combined, BTC and ETH ETFs added around $282 million — not a blockbuster, but meaningful after a long stretch of red.
Flow details
- Bitcoin ETFs opened the week strong with a $265.7 million inflow on Monday, added $21.5 million on Tuesday, then gave back ground midweek amid geopolitical jitters tied to Iran: $84.9 million out on Wednesday and $95.3 million out on Thursday. They finished Friday with a $90.4 million inflow.
- BlackRock’s IBIT was the biggest buyer on the green days, contributing $209.4 million on Monday and $86.8 million on Friday. That’s notable because IBIT had been the single largest source of June’s record outflows, so its return to the bid side carries extra weight.
Price reaction and what’s next
- Bitcoin rallied to about $64,000 during the inflows before retracing to just under $63,000 overnight.
- This week’s CPI print (Tuesday) is the last major macro trigger before the Fed’s July 28–29 FOMC meeting. Cooler-than-expected inflation would likely keep flows building and could reopen the path toward June’s peak near $67,250. A hotter print, conversely, would put the recent bounce under pressure.
Also in the Morning Minute: Corporate treasuries, ETF trends and our Meme Coin Tracker — more analysis coming throughout the week.
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