Bitcoin ETFs on pace for record-low monthly inflows in July 2026

US-listed spot Bitcoin ETFs are heading for their weakest month of inflows since the products launched in January 2024, undercutting the narrative that institutional demand is steadily accelerating.

The 12 US spot Bitcoin ETFs have attracted $204.7 million in net inflows so far in July, putting the month on track for the smallest total since the funds began trading in January 2024, according to SoSoValue data. The pace marks a sharp deceleration from the $3.3 billion monthly average seen in the first quarter of 2025.

"This month, analysts have repeatedly pointed to multiday inflows into the US-listed crypto exchange-traded funds as evidence of the return of institutional demand," the report said. "Zoom out, though, and the institutional story still looks bleak."

The slowdown comes despite occasional bright spots. On Wednesday, the funds recorded $32.1 million in net inflows, ending a four-session outflow streak that had erased more than $500 million. Still, weekly flows remain negative at $29.29 million in net outflows. Cumulative net inflows across all funds stand at $51.36 billion since launch.

The weakening flow data suggests the institutional bid for Bitcoin via regulated vehicles is losing momentum even as the broader crypto market shows signs of strain. Bitcoin traded at $63,990 as of 14:00 UTC Thursday, down 2.5 percent over the past seven days, while the Crypto Fear & Greed Index held at 28, remaining in "fear" territory for a second consecutive week.

Ether ETFs Show Divergence

Spot Ether ETFs have fared better on a monthly basis, attracting $342.9 million in net inflows so far in July — well above the $204.7 million for their Bitcoin counterparts. Yet they too logged $18.65 million in outflows on Wednesday, suggesting the weakness is not confined to Bitcoin products. Ether traded at $1,902, down 1.1 percent over the past seven days.

Macro Headwinds Weigh on Risk Assets

The tepid ETF flows coincide with a broader risk-off tilt across financial markets. South Korea's Kospi tumbled more than 10 percent, while Japan's Nikkei ended down over 3.5 percent, as technology and AI stocks sold off sharply. The Nasdaq also declined as investors braced for earnings from Meta, Microsoft, Apple and Amazon. This pressure on tech stocks has indirectly affected demand for risky assets like Bitcoin, according to market participants.

Bitcoin's price action reflects the uncertainty. After hitting a high of $66,923 last week, the token has formed a bear flag pattern on the daily chart, with the measured target near $60,000, technical analysis shows. Key support sits at $58,000, while a recovery above $67,000 would open the path toward $70,000 to $75,000.

The Bitcoin-to-gold ratio, a gauge of Bitcoin's relative performance against the precious metal, is trading at an important support level defined by an ascending channel pattern extending from 2013. A break above 18 would signal Bitcoin is outperforming gold and that a short-term bottom has formed, while a break below 12 would indicate further correction is needed.

This article is for informational purposes only and does not constitute investment advice.