US-listed Ethereum spot funds (ETFs) recorded net outflows of $70.62 million on Friday, ending a five-day streak of inflows.
According to SoSoValue, Ethereum funds saw net inflows of $211.25 million over the previous five sessions from July 17 to Thursday data. They still reported net inflows of $103.9 million for the week ended Friday.
Despite outflows, Ethereum ETFs extended their streak of weekly inflows to three in a row and have attracted $337.74 million in net inflows so far in July.
Spot cryptocurrency ETF flows have become one of the market’s most closely watched indicators of demand for Bitcoin (BTC) and Ether (ETH) via classic investment products.
While other jurisdictions, including Hong Kong, have launched similar funds, US-listed ETFs account for the huge majority of assets and trading volumes.
Ethereum ETF net daily spot flows from July 17-24. Source: SoSoValue
Bitcoin ETFs also end the week with outflows
The reversal was similar for Bitcoin ETFs, which ended a seven-day streak of inflows on Thursday and posted another net outflow of $240.08 million on Friday.
Bitcoin ETFs also extended their streak of net inflows to three consecutive weeks, adding $103.90 million in the week ended Friday and $233.96 million so far in July. They followed a record June, when $4.5 billion flowed out of funds.
BTC was trading just under $64,000 at the time of writing, down from a weekly high of $66,892 on Tuesday, according to data. CoinGecko. ETH was trading at $1,837, down from Wednesday’s weekly high of $1,954.
Related: Bitcoin falls below 64 thousand dollars, as rising US bond yields boost the risk of the Fed raising interest rates
Japanese Crypto Reforms Drive $18.4 Billion Bitcoin ETF Forecast
Following a recent change in Japanese cryptocurrency regulations that is widely seen as laying the groundwork for future spot Bitcoin ETFs, cryptocurrency management platform XWIN has estimated that the mature Japanese spot Bitcoin ETF market could reach approximately $18.4 billion, representing roughly 0.13% of the country’s $14.6 trillion in financial assets.
In analysis published on CryptoQuant, XWIN said the estimates assume demand from existing cryptocurrency holders, up-to-date retail investors using brokerage accounts and institutional allocators.
The report pointed to the U.S. market as an example, noting that spot Bitcoin ETFs, excluding Grayscale’s GBTC, have accumulated approximately 1 million Bitcoin, demonstrating how regulated ETF products can combine classic finance with digital assets.
“Access is the key,” XWIN said, adding that a Japanese spot Bitcoin ETF would enable investors to gain exposure to Bitcoin through established brokerage and custody systems. He characterized the $18.4 billion figure as an “attainable, high-end market scenario.”
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