Bitcoin and Ethereum ETF flows swung sharply between July 13–17 as geopolitical tensions, CPI data, and options expiry shaped institutional demand.
Crypto ETF investors experienced a roller-coaster week between July 11 and 17, 2026. A sharp sell-off at the start of the week wiped nearly $85 billion from the crypto market. Despite the weak start, institutional demand quickly returned, helping bitcoin ETFs finish the week with nearly $500 million in inflows, up from the previous week’s inflows of $377.6 million.
BlockInsider has rounded up the week's crypto ETF activity, examining where institutional money moved.
The week began on a weak note as the total crypto market cap fell 1.2% to $2.14 trillion. The decline came after rising tensions between the U.S. and Iran. Following this, oil prices also jumped nearly 10% to $76 per barrel.
Further selling pressure increased after Michael Saylor’s Strategy chose not to buy more Bitcoin despite raising $466.7 million through the sale of MSTR shares. The decision disappointed investors who had expected a large Bitcoin purchase after a sale of BTC this month.
U.S. spot Bitcoin ETFs recorded a net outflow of $424.7 million, with Fidelity's FBTC leading the withdrawals at $245.6 million, followed by BlackRock's IBIT with $185.5 million.
Spot Ethereum ETFs also ended the day in the red, posting a $15.4 million net outflow.
Market sentiment quickly improved on July 14 after the June U.S. Consumer Price Index (CPI) came in lower than expected. The CPI for June rose 3.5% year over year, below the market expectation of 3.8%.
Following the data, Bitcoin surged from around $62,200 to above $65,046, reversing the previous day's losses. The improved sentiment also attracted institutional investors back into crypto ETFs.
U.S. spot Bitcoin ETFs recorded a net inflow of $181.1 million, with BlackRock's IBIT contributing $138.9 million of the total.
While, spot Ethereum ETFs also recovered, posting a $58.3 million net inflow as investor confidence returned.
Bitcoin extended its gains on July 15, climbing above $65,500 for the first time in four weeks. The sharp rally triggered more than $220 million in Bitcoin short liquidations across crypto exchanges.
The same day, Japan passed a law reclassifying cryptocurrencies as financial assets under its Financial Instruments and Exchange Act. The reform lowered the country's crypto tax rate to a 20% flat tax from as high as 55%, while also creating a clearer path for future spot Bitcoin ETFs.
The positivity was reflected in ETF flows. U.S. spot Bitcoin ETFs attracted $107.7 million in net inflows, led by BlackRock's IBIT with $80 million. On the other hand, Ethereum ETFs also remained strong, seeing $53.9 million in net inflows.
The crypto market lost some of its gains on July 16 as short-term traders began taking profits, pulling Bitcoin back toward $63,769.
Despite the price decline, institutional demand remained strong. The U.S. spot Bitcoin ETFs recorded another $79.1 million in net inflows, led by BlackRock's IBIT with $33.4 million, followed by Fidelity's FBTC with $30.7 million.
Ethereum, however, faced some pressure. The token slipped to around $1,803, while spot Ethereum ETFs recorded a $28 million net outflow, mainly driven by Grayscale with $14.3 million and Fidelity with $11.2 million.
The crypto market ended the week on a quiet note as $1.43 billion in Bitcoin and Ethereum options expired. Bitcoin price then slipped to around $62,489 as traders positioned themselves ahead of the expiry.
U.S. spot Bitcoin ETFs recorded $132.3 million in net inflows, with BlackRock's IBIT bringing in $136.5 million, while Fidelity's FBTC was the only fund to post an outflow of $4.2 million.
Ethereum options traders remained defensive, favoring bearish put positions. However, spot Ethereum ETFs still attracted $36.7 million in net inflows.
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