Eight-Week ETF Outflow Streak Ends, But $281.8M Recovery Covers Just 3% of Losses
Spot bitcoin and ether ETFs returned $281.8M in net inflows for the week ending July 11, 2026, snapping an eight-week streak that had drained $9.46B.
U.S. spot bitcoin and ether ETFs posted a combined $281.8 million in net inflows for the week ending July 11, 2026 – their first positive week since early May and the end of an eight-week outflow streak that had drained roughly $9.46 billion from both product categories, according to The Block‘s analysis of SoSoValue data.
Eight-Week Bleeding Stops, But the Rebound Is Modest
Spot bitcoin ETFs led the week with approximately $197.4 million in net inflows, ending a run that had erased about $8.26 billion in net assets over the preceding eight weeks – the longest negative streak since the funds began trading in January 2024. The funds last recorded a positive week in the five days ending May 8, when they drew in roughly $622.7 million.
Spot ether ETFs contributed approximately $84.4 million, also their first positive result since the week ending May 8. The preceding eight weeks had pulled about $1.20 billion from ether funds, a losing run that matched the category’s record previously set between late February and mid-April 2025.
The headline rebound figures mask a choppier week underneath. Bitcoin ETFs opened Monday with a $265.69 million inflow – a figure that alone exceeded the eventual weekly total – before a smaller $21.44 million addition on Tuesday. Wednesday and Thursday saw a combined $180.16 million in net outflows before Friday’s $90.44 million recovery partially offset those mid-week redemptions. The day-to-day swing underscores that this was not a clean directional reversal; institutional positioning remained unsettled through most of the week.
BlackRock Dominates Friday Flows Across Both Products
Friday’s buying was concentrated in a narrow set of funds. On the bitcoin side, BlackRock‘s iShares Bitcoin Trust (IBIT) took in $86.83 million, while VanEck‘s HODL added $3.61 million. Every other bitcoin ETF reported zero net flows for the session – a pattern that reflects how thoroughly IBIT has consolidated market share in the category.
Ether funds were similarly concentrated. BlackRock‘s ETHA accounted for $16.20 million of Friday’s $18.43 million ether inflow, with Fidelity‘s FETH adding the remaining $2.23 million. The eight other ether products were flat. Wednesday’s session was ether ETFs’ strongest of the week at $70.48 million, though Thursday’s $52.08 million outflow – the only negative ether day of the five – showed that conviction was not uniform across the week.
Ether funds recorded inflows during four of the week’s five sessions, giving them a marginally cleaner weekly profile than bitcoin ETFs despite their smaller headline number. That consistency, combined with the record-matching nature of the preceding eight-week drawdown, will draw attention from flow analysts watching whether ether products can sustain a recovery that bitcoin ETFs have so far struggled to maintain.
The Scale of Recovery Against the Preceding Selloff
The rebound numbers carry an important asterisk: this week’s combined $281.8 million recovered roughly 3% of the $9.46 billion drained over the eight preceding weeks. Bitcoin ETFs clawed back approximately 2.4% of their eight-week losses; ether ETFs recovered about 7% of theirs. The asymmetry reflects the smaller absolute dollar drain on ether products, not a stronger conviction signal for that market.
Year-to-date flows remain deeply negative for both categories. Bitcoin ETFs have recorded roughly $5.34 billion in net outflows since January 1, 2026, while ether funds have shed about $1.35 billion over the same period. Both groups entered 2026 with strong net inflow profiles built across 2024 and early 2025; the current year has reversed that posture entirely. The eight-week outflow streak that just ended included a holiday-shortened week ending July 2 that alone produced about $527 million in redemptions.
Net assets tell the same story. Bitcoin ETF net assets stood at $77.42 billion at Friday’s close against $51.28 billion in cumulative net inflows since launch – the gap between those figures representing market appreciation that has partially cushioned the flow damage. Ether ETF net assets totaled $9.59 billion, sitting roughly $1.38 billion below the category’s cumulative net inflows of $10.97 billion, meaning ether ETF holders as a group are currently underwater on the net-inflow basis.
Volume Signals Caution, Not Conviction
Trading volume across both ETF categories remained subdued even as flows turned positive. Bitcoin ETF trading volume totaled about $8.41 billion for the week, the lowest figure for a full five-session week since October 2024. Ether ETF volume came to roughly $2.05 billion, its lowest full-week total since May 2025. Low volume during a flow reversal is not the configuration of a market expressing strong directional conviction – it is more consistent with opportunistic buying into a dip than with systematic re-allocation into the asset class.
The broader context is that the prior dual BTC and ETH ETF outflow period coincided with price weakness across both assets; bitcoin traded near $64,300 on Saturday morning while ether changed hands around $1,810, per The Block’s price pages. Neither level represents a meaningful technical recovery from the ranges that characterized the outflow weeks. An earlier inflow episode – the $222 million single-day inflow that briefly interrupted the outflow streak within the broader eight-week period – similarly failed to mark a durable trend shift, a precedent that argues for treating this week’s data as a tentative improvement rather than a confirmed reversal.
What the Flow Data Needs to Confirm Next
One positive week after eight consecutive negative ones ends the streak on a technical basis, but the structural questions remain open. The concentration of inflows in BlackRock‘s IBIT and ETHA – with nearly every other fund reporting zero flows on Friday – suggests the recovery is being driven by a narrow set of large participants rather than a broad return of retail or institutional demand across the product landscape.
The next two to three weeks of flow data will determine whether this is the beginning of a sustained re-accumulation phase or a brief technical bounce before the outflow trend resumes. With bitcoin ETFs still carrying $5.34 billion in year-to-date outflows and ether ETFs sitting below their cumulative net inflow watermark, the path of least resistance for both categories remains lower until weekly inflows consistently exceed the nine-figure threshold and volume confirms participation is broadening beyond the dominant BlackRock products.
Source: The Block
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