US-listed cryptocurrency exchange-traded funds continued their positive momentum on July 22, with both spot Bitcoin and spot Ethereum ETFs recording net inflows as institutional investors gradually rebuilt exposure to digital assets.
Spot Bitcoin ETFs attracted a combined $69.1 million in net inflows, marking the seventh consecutive trading day of positive flows. The steady buying extended the sector’s longest winning streak in more than a month and suggested institutional sentiment continues to improve following the severe outflows experienced during May and June.
BlackRock’s iShares Bitcoin Trust (IBIT) remained the primary destination for institutional capital, bringing in $38.8 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $21.5 million, while Bitwise’s BITB added $5.4 million. Grayscale’s Bitcoin Mini Trust contributed $3.8 million, offsetting a $38.3 million outflow from the legacy Grayscale Bitcoin Trust (GBTC). Despite GBTC’s continued redemptions, the broader ETF market remained firmly in positive territory.
Ethereum ETFs also posted another strong session, recording $72.7 million in net inflows and extending their positive streak to four consecutive trading days.
Institutional Buying Continues to Broaden
The latest ETF figures reinforce a gradual shift in institutional positioning after one of the weakest periods for crypto investment products since their launch.
Bitcoin ETFs had previously endured an eight-week outflow streak that erased more than $8 billion from the sector. While recent inflows remain modest compared with those earlier withdrawals, the consistency of the current buying trend suggests investors are steadily regaining confidence rather than reacting to a single short-term market catalyst.
BlackRock has continued to dominate new allocations across both Bitcoin and Ethereum products, reflecting investors’ preference for highly liquid funds managed by established asset managers. Fidelity has also maintained positive inflows on the Bitcoin side, although Ethereum allocations have been more concentrated among fewer issuers.
The improving flow picture has coincided with Bitcoin holding above the important $65,500 technical support level after recently reclaiming the $66,000 region. Ethereum has likewise benefited from stronger institutional demand as investors increasingly view the asset as a long-term infrastructure play alongside Bitcoin.
Despite the renewed optimism, cumulative ETF inflows remain well below the levels seen during the record buying periods of early 2024 and late 2025.
Recovery Remains in Its Early Stages
Analysts continue to caution that several days of positive flows do not necessarily signal the beginning of a sustained institutional bull market.
The crypto ETF market is still recovering from months of persistent selling driven by macroeconomic uncertainty, higher interest rates and profit-taking following Bitcoin’s record highs. A single large redemption day can still reverse several sessions of moderate inflows.
Nevertheless, July’s improving flow trend suggests institutions are becoming more comfortable adding exposure as cryptocurrency prices stabilize. Continued inflows would provide an additional source of demand alongside corporate treasury purchases and growing retail participation.
For Bitcoin, sustained ETF buying could strengthen support above the mid-$60,000 range and improve the probability of another attempt toward $70,000. Ethereum’s continued inflows also indicate that institutional investors are increasingly treating the asset as a core portfolio allocation rather than a speculative alternative.
While the pace of buying remains measured, July 22 demonstrated that institutional capital continues to return to crypto markets. Another day of positive inflows for both Bitcoin and Ethereum ETFs suggests confidence is slowly rebuilding after one of the industry’s most challenging periods in recent memory.
