While the confidence of institutional investors wavered in the face of significant volatility, the Bitcoin and Ether ETFs have just experienced their first positive weekly trend reversal since May. This momentous start breaks a phase of prolonged capitulation. In addition, it serves as a barometer to measure the real appetite of traditional finance.
In brief
- The Bitcoin and Ether ETFs recorded their first positive week since May, driven by a final session at $90.44 million.
- The IBIT fund crushes the competition and alone captures $86.83 million at the close on Friday July 10.
- Despite an air gap on Thursday, July 9, the final burst of the market saves the weekly assessment of crypto products.
- The simultaneous rise of Bitcoin and Ether signals a return of institutional investors.
BlackRock and VanEck power spot ETFs
Friday July 10 ended with a massive return of institutional capital, as evidenced by the key indicators of the session:
- Bitcoin exchange-traded funds (ETFs) attracted a combined net inflow of $90.44 million;
- Ether-backed products consolidated this trend by capturing the sum of $18.43 million during the same day;
- BlackRock’s iShares Bitcoin Trust (IBIT) alone took in $86.83 million of the daily total, confirming its hegemony;
- Manager VanEck’s HODL fund completed this performance by recording a net contribution of $3.61 million.
Analysis of this raw data revealed a clear technical correlation between the inflow of liquidity and the behavior of the spot market. Following these massive allocations, the price of bitcoin immediately jumped to $64,100, gaining 1.39% in 24 hours. This upward movement mechanically propelled the overall valuation of the sector to a solid level of $2.28 trillion.
Flow structure specialists interpret this simultaneous push on bitcoin and Ether as a “a return of interest in cryptos as an asset class”proving that current allocations go beyond a simple isolated technical rebound on a single asset.
A mixed week for capital flows
The positive outcome of this trading week emerged at the end of a particularly chaotic journey which put the operators’ nerves to the test. However, the period began auspiciously on Monday July 6, posting an initial entry of $265.69 million for Bitcoin ETFs, already largely supported by an interim performance from the IBIT of $209.40 million.
However, the climate took a turn for the worse on Wednesday July 8 when Bitcoin funds suddenly suffered a leak of $84.9 million. Notably, Ether displayed disconnected resilience that day by posting its fifth consecutive session in the green with $70.5 million in entries. The purge became widespread on Thursday, July 9, marked by a simultaneous withdrawal of 95.30 million dollars from bitcoin and an exit of 52.08 million dollars from Ether, sharply breaking the bullish series of the latter before the saving burst on Friday.
This rapid alternation between the collection and withdrawal phases reveals the short-term fragility of investor sentiment. Daily arbitrages show that psychological barriers remain strong, with each growth spurt being immediately challenged by profit-taking or hedging.
This seesaw behavior indicates that while large portfolios are returning to the market, they are still doing so with extreme selectivity and rigorous risk management discipline. The week’s flows illustrate a transition phase, where institutional buyers test the strength of technical supports without committing to aggressive long-term accumulation strategies.
The test of resilience in the face of the liabilities of the American Stock Exchange
This weekly recovery takes on its full meaning when compared to the recent and much darker history of the American market. The month of June ended on a negative note with around $4 billion withdrawn from Bitcoin ETFs, marking the worst monthly performance since their introduction in January 2024.
This rout was notably exacerbated by a ten-day black streak of outflows of $2.73 billion, a series which was only interrupted at the beginning of July thanks to an inflow of $222 million into Fidelity’s FBTC fund. Despite these shocks, the overall structure demonstrates undeniable long-term robustness, with cumulative net inflows since the beginning still peaking at nearly $51.3 billion.
This return of capital since May offers a respite, allowing us to retrace some of the losses since the October 2025 peak, when bitcoin peaked around $126,000 before suffering a correction of almost half its value. The test of truth will be played out in the next trading sessions, which will determine whether this return of buyers constitutes a simple portfolio adjustment or the start of a lasting flow.
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