U.S. spot Bitcoin ETFs saw a sharp slowdown in weekly inflows last week, reflecting a cooling investor appetite amid waning hopes for imminent Fed rate cuts and the market impact of President Trump’s newly passed budget bill.
According to data from SoSoValue, the 12 approved spot Bitcoin ETFs attracted a combined $769.6 million in net inflows — a steep 65% drop from the $2.22 billion seen the previous week.
The week began with a modest $102.14 million in net inflows on Monday, but sentiment quickly turned, resulting in Tuesday outflows of $342.25 million. Flows rebounded midweek, with $407.78 million entering the market on Wednesday, and Thursday marked the strongest single-day performance since May, bringing in $601.94 million. Markets were closed Friday due to the U.S. Independence Day holiday.
BlackRock’s IBIT led the pack with $336.8 million in inflows, followed by Fidelity’s FBTC at $248.4 million and ARK 21Shares’ ARKB with $160 million. Additional contributions came from Bitwise (BITB), Invesco (BTCO), Franklin Templeton (EZBC), Valkyrie (BRRR), VanEck (HODL), and smaller allocations to Grayscale’s newer products, collectively adding $109.2 million. However, these gains were partially offset by $84.9 million in outflows from Grayscale’s legacy GBTC fund.
The sharp pullback in ETF flows is largely seen as a result of profit-taking, with Bitcoin nearing its all-time high of $111,960 last week. Many investors appear to have locked in gains ahead of the holiday weekend, leading to reduced short-term momentum and subdued inflows into crypto investment products.
Macroeconomic headwinds also weighed on market sentiment. The June U.S. jobs report surprised to the upside, showing 147,000 nonfarm payroll additions — well above expectations of 110,000. The stronger data diminished expectations for a July interest rate cut, prompting a shift in asset allocation away from risk assets like Bitcoin.
As of now, Bitcoin is trading near $109,000, virtually flat on the day and about 2.5% below its record high.
Despite near-term caution, the medium-term outlook for Bitcoin remains bullish. Standard Chartered reiterated its Q3 price target of $135,000 and maintained a year-end projection of $200,000, citing persistent institutional demand and declining exchange supply. Other analysts, including Bernstein and BitMEX founder Arthur Hayes, have floated even higher targets ranging from $200,000 to $250,000 by the end of the year, contingent on continued ETF inflows and favorable global liquidity conditions.
