Spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) both turned positive in the week ending July 10, ending eight straight weeks of net outflows.

According to SoSoValue data, Bitcoin funds pulled $197.40 million, and Ethereum funds added $84.42 million. The twin reversal followed a stretch that had drained billions from the products since mid-May.

A Reversal After Two Months of Redemptions

The turn capped a punishing run for both products. Bitcoin ETFs had shed money every week since May 15, with redemptions peaking at $1.79 billion in the week ending June 26.

Ethereum funds followed the same path. Their heaviest week also fell on June 26, when $273.34 million exited the funds.

With the latest recovery, Bitcoin net assets climbed to $77.42 billion by July 10, while Ethereum assets recovered to $9.59 billion.

Momentum had already been building at the start of the month. Spot Bitcoin ETFs drew $221.72 million on July 2, ending a 10-day redemption run before the weekly figures turned green.

Price Recovery and Renewed Geopolitical Risk

The inflows arrived during a broader price rebound. Bitcoin’s price recovered after Federal Reserve Chair Kevin Warsh said inflation risks had decreased. A weak jobs report reinforced the move. 

However, daily flows stayed volatile. Bitcoin ETFs lost $95.30 million on July 9 and $84.86 million on July 8, after US strikes on Iran.

Whether the streak holds now depends on macro and geopolitical conditions. President Donald Trump said the US and Iran agreed to continue talks but declared last month’s ceasefire over.

That standoff makes the Middle East the key variable for crypto in the days ahead. 

Source: BeInCrypto