US-listed spot Ethereum ETFs logged $70.62 million in net outflows on Friday, snapping a five-day run of inflows. The week still finished in the green, and the funds have now drawn net inflows for three straight weeks. Bitcoin ETFs followed the same reversal.
US-listed spot Ethereum ETFs recorded $70.62 million in net outflows on Friday, ending a five-day inflow streak. The funds had pulled in $211.25 million over the previous five sessions from July 17 to Thursday, according to SoSoValue.
Even so, Ethereum ETFs still posted $103.9 million in net inflows for the week ended Friday, stretching their weekly inflow streak to three straight. They have now attracted $337.74 million in net inflows so far in July.
Bitcoin ETFs turn negative too
The reversal mirrored a similar move in Bitcoin ETFs, which ended a seven-day inflow streak on Thursday and logged $240.08 million in net outflows on Friday. Yet those funds also extended their net inflow streak to three consecutive weeks, adding $103.90 million during the week and $233.96 million so far in July.
That run followed a record June, when $4.5 billion flowed out of the funds. BTC traded just under $64,000, down from the week’s high of $66,892 on Tuesday, according to CoinGecko. ETH changed hands at $1,837, below Wednesday’s weekly high of $1,954.
Japan reforms feed an $18.4 billion forecast
Japan’s recent overhaul of its crypto rules is widely viewed as laying the groundwork for future spot Bitcoin ETFs. Crypto management platform XWIN estimated a mature Japanese spot Bitcoin ETF market could reach about $18.4 billion, roughly 0.13% of the country’s $14.6 trillion in household financial assets.
XWIN said the estimate assumes demand from existing crypto holders, new retail investors using brokerage accounts and institutional allocators. It pointed to the US market, where spot Bitcoin ETFs excluding Grayscale’s GBTC have accumulated roughly 1 million Bitcoin. The firm described the $18.4 billion figure as “an achievable upper-end market scenario.”
Source: Cointelegraph
Trading involves risk.
Risk Disclaimer
