Bitcoin ETFs have recorded net inflows for the third consecutive week, with institutional demand recovering but remaining cautious.

U.S. spot Bitcoin ETFs recorded net inflows for the third consecutive week, marking the first three-week streak of gains since early May. However, the inflow pace slowed significantly due to outflows ahead of the weekend. In the week ending July 24, U.S.-listed spot Bitcoin ETFs saw a combined net inflow of $33.79 million. The prior two weeks posted inflows of $197 million and $75.67 million respectively. Data shows that on July 23 and 24, Bitcoin ETFs recorded net outflows of roughly $225.2 million and $240.1 million respectively, ending a seven-day consecutive inflow streak. BlackRock’s IBIT accounted for the bulk of these outflows, with roughly $415 million exiting the product. Market analysts note that institutional funds are returning to Bitcoin ETFs, though demand remains weaker than during bull market periods. Crypto data firm BRN stated that after massive outflows in May and June, the market entered a recovery phase in July, but institutional investors remain cautious. On the price front, Bitcoin briefly rose above the July high of $66,500 on Tuesday, then pulled back as investors took profits and U.S. tech stocks weakened, falling below $64,000 by the weekend. The Nasdaq 100, weighed down by falling chip stocks, further pressured risk asset performance.