Bitcoin ETF flows are unstable and volatile, with money leaving and returning within 48 hours, suggesting allocators are not building sustained positions

"The divergence comes as Ethereum ETF demand has strengthened in July while Bitcoin ETF flows have become more volatile amid profit-taking and shifting investor sentiment. IBIT recorded inflows before sentiment reversed, posting outflows of $202.5 million on July 23 and $212.2 million on July 24, resulting in a net five-day outflow of $95.5 million."

"U.S. spot bitcoin ETFs shed $424 million on July 13, then took back $181 million the next day. Money leaving and returning inside 48 hours is not indicative of an allocator building a position."