Key Takeaways
- • U.S. spot bitcoin ETF weekly trading volume fell to $8.05 billion for the week ending July 25, 2026—down 14% week-over-week and marking the lowest full five-session week since October 2024, reflecting subdued investor activity as BTC traded near $64,000.
- • Bitcoin ETFs posted $33.8 million in net inflows for the week, the weakest positive week of a three-week inflow streak that ended an eight-week outflow period; BlackRock's iShares Bitcoin Trust recorded $95.5 million in net outflows despite being the largest spot bitcoin ETF by assets.
- • Spot ether ETFs outperformed bitcoin funds for the second consecutive week, attracting approximately $103 million in inflows and demonstrating a continued reallocation of capital from bitcoin to ethereum products.
- • End-of-week liquidations accelerated the decline, with investors withdrawing $225.2 million on Thursday and $240.1 million on Friday, erasing nearly all gains accumulated during the first three trading sessions of the week ($499.1 million in inflows).
- • Grayscale's Bitcoin Mini Trust ($85.8 million inflows) and ARK 21Shares Bitcoin ETF ($78.1 million inflows) partially offset BlackRock's outflows, indicating fragmentation in bitcoin ETF capital flows across competing providers.
Summary
U.S. spot bitcoin exchange-traded funds entered a period of diminished trading activity during the week ending July 25, 2026, with weekly volume declining to $8.05 billion—a 14% drop from the preceding week's $9.37 billion and the lowest figure for a complete five-session trading week since October 2024. The volume contraction reflects tepid investor demand as bitcoin remained anchored near $64,000, well below the record highs achieved in late 2025. The funds nevertheless extended their positive inflow streak to three consecutive weeks following the conclusion of an eight-week outflow period earlier in July.
The week's performance masked significant intra-week volatility in fund flows. Bitcoin ETFs accumulated $499.1 million in net inflows during the first three trading sessions, but investor sentiment shifted sharply in the final two days, with Thursday and Friday redemptions totaling $465.3 million and nearly erasing the week's gains. This pattern resulted in modest net inflows of $33.8 million for the full week—the weakest of the three-week positive streak, following substantially larger inflows of $75.7 million and $197.4 million in the two preceding weeks.
Performance varied significantly across major bitcoin ETF providers. BlackRock's iShares Bitcoin Trust, the largest spot bitcoin ETF by net assets, recorded $95.5 million in net outflows, including $414.7 million in redemptions during Thursday and Friday alone. This outflow was partially offset by inflows to competing products: Grayscale's Bitcoin Mini Trust attracted $85.8 million and the ARK 21Shares Bitcoin ETF drew $78.1 million, indicating competitive redistribution of assets across the bitcoin ETF landscape.
In a notable shift, spot ether ETFs continued to outperform their bitcoin counterparts, drawing approximately $103 million in inflows and extending their strong performance to a second consecutive week. This pattern suggests ongoing capital reallocation from bitcoin toward ethereum products, potentially reflecting investor expectations or risk reassessment between the two largest cryptocurrency assets.
The week's performance masked significant intra-week volatility in fund flows. Bitcoin ETFs accumulated $499.1 million in net inflows during the first three trading sessions, but investor sentiment shifted sharply in the final two days, with Thursday and Friday redemptions totaling $465.3 million and nearly erasing the week's gains. This pattern resulted in modest net inflows of $33.8 million for the full week—the weakest of the three-week positive streak, following substantially larger inflows of $75.7 million and $197.4 million in the two preceding weeks.
Performance varied significantly across major bitcoin ETF providers. BlackRock's iShares Bitcoin Trust, the largest spot bitcoin ETF by net assets, recorded $95.5 million in net outflows, including $414.7 million in redemptions during Thursday and Friday alone. This outflow was partially offset by inflows to competing products: Grayscale's Bitcoin Mini Trust attracted $85.8 million and the ARK 21Shares Bitcoin ETF drew $78.1 million, indicating competitive redistribution of assets across the bitcoin ETF landscape.
In a notable shift, spot ether ETFs continued to outperform their bitcoin counterparts, drawing approximately $103 million in inflows and extending their strong performance to a second consecutive week. This pattern suggests ongoing capital reallocation from bitcoin toward ethereum products, potentially reflecting investor expectations or risk reassessment between the two largest cryptocurrency assets.
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