Bitcoin ETF Outflows Stretch to Eighth Week as Altcoins Draw In

Bitcoin ETFs have continued their streak of weekly outflows, recording $527 million in net withdrawals from June 29 to July 2. This marks the eighth consecutive week of outflows for these funds.

The latest data shows that demand for Bitcoin funds remains weak, despite some products returning to daily inflows on certain days. Fidelity's FBTC led the rebound with about $166 million in inflows on July 2, while ARK 21Shares' ARKB added about $91.8 million.

Ethereum ETFs also faced pressure, recording $13.67 million in net outflows during the same period. While some Ethereum funds posted positive daily flows on July 1 and 2, these gains did not fully offset earlier redemptions.

However, not all crypto funds are experiencing outflows. Spot SOL ETFs recorded $5.75 million in net inflows from June 29 to July 2, while XRP ETFs added $17.19 million and HYPE ETFs brought in $4.32 million.