U.S. spot Bitcoin ETFs recorded $527 million in net outflows over the four trading days ending July 2, marking the eighth consecutive negative week and setting their longest weekly outflow run since launch. The latest decline came even after Bitcoin ETFs posted $221.7 million in net inflows on July 2, ending a 10-day withdrawal streak that had pulled nearly $2.7 billion from the funds. According to crypto.news, one strong session was not enough to erase heavy redemptions from earlier in the week, with traders noting that "One $221 million day against a month of $4 billion proves nothing." BlackRock's IBIT continued its redemption run, posting $40.4 million in net outflows on July 2, extending its losing streak to 11 straight trading days and remaining the key drag on weekly flows despite Fidelity's FBTC leading the rebound with about $166 million in inflows.
Bitcoin surged more than 5% over the past 24 hours to trade near $61,649 as oil prices collapsed, with WTI crude slipping below $68 for the first time in 125 days. The dramatic shift came as four Bahri-operated supertankers exited the Gulf carrying around 8 million barrels of crude after the US-Iran truce reopened the Strait of Hormuz. Saudi Arabia is now recording its strongest shipping activity since the conflict disrupted regional energy flows, with exports moving toward the 6.3 million barrels per day pace recorded before tensions escalated. This represents a significant recovery from when exports had fallen to roughly 4 million barrels per day during the fighting after exceeding 7 million barrels per day in February. The oil price fall gathered momentum on Thursday as traders unwound fears of supply disruptions and tanker shortages that had been priced in only weeks ago.
While Bitcoin and Ethereum ETFs continued their withdrawal streaks, altcoin-linked funds moved in the opposite direction, attracting capital during the same period. XRP ETFs added $17.19 million in net inflows from June 29 to July 2, while SOL ETFs recorded $5.75 million in net inflows and HYPE ETFs brought in $4.32 million. According to crypto.news, these inflows were smaller than Bitcoin ETF outflows but showed that investors did not abandon all crypto funds, with some capital moving into products tied to assets outside Bitcoin and Ethereum. Bitwise reported that its XRP ETF inflows topped $200 million year to date across U.S. and European products, while HYPE ETFs crossed $100 million in inflows within their first 10 trading sessions. This trend continues the pattern seen in May when XRP ETFs beat Bitcoin and Ethereum funds with $131.94 million in monthly inflows, as reported by crypto.news.
Spot Ethereum ETFs also ended the four-day period in negative territory, recording $13.67 million in net outflows from June 29 to July 2, marking their eighth straight week of withdrawals. The products posted positive daily flows on July 1 and July 2, but these gains did not fully offset earlier redemptions. BlackRock's ETHA recorded about $29.7 million in inflows on July 2, helping the group recover part of its earlier losses. The weak weekly result followed earlier pressure across Ethereum funds, with crypto.news recently reporting that Ethereum ETFs faced large weekly withdrawals while traders watched whether ETH could hold key price levels. The data shows that Bitcoin and Ethereum funds still face uneven demand, with investors returning on some days but weekly figures continuing to show net selling across the two largest crypto ETF groups.
