The ETF flow chart for July 1st presents a truly mixed picture, and these figures actually align perfectly with reliable sources. Spot bitcoin ETFs experienced a net outflow of $294.62 million that day, a continuation of the difficult period that continued throughout June, which was the worst month in history for bitcoin ETFs, with a single-month outflow of $4.5 billion. While outflows were seen across the category, Grayscale's Mini Trust product resisted this trend, managing to attract around $36 million in inflows, which is interpreted as a sign of a continuing shift in preference towards lower-cost products.

The Ethereum side, on the other hand, presented a completely different picture, recording a net inflow of $14.89 million on the same day. A large portion of this figure came from BlackRock's ETHA product alone, which attracted around $36.6 million in inflows – even higher than the category total – suggesting that some other Ethereum products experienced simultaneous outflows.

The picture in altcoin ETFs complements this mixed outlook. SOL products saw positive inflows of around $521,000, HYPE products around $2.85 million, and LINK products around $915,000. XRP, however, experienced a reverse movement, with a net outflow of $1.86 million. DOGE, BNB, LTC, AVAX, HBAR, and DOT products showed neither positive nor negative movement throughout the day, indicating that institutional interest in these products is currently quite limited and stagnant.

Looking at the overall picture, the following emerges: institutional capital is no longer flowing en masse in one direction; it is behaving quite selectively on an asset-by-asset basis. The outflow trend in Bitcoin appears to be linked to uncertainty in interest rate expectations and ongoing anxiety regarding the Fed's stance, while the modest but positive inflows in Ethereum and some select altcoin products suggest that more specific, product-specific interest in these assets continues. It's also noteworthy that a newer, niche product like HYPE attracted the highest net inflow, surpassing SOL and LINK, which could indicate that some investors are gravitating towards fresher narratives rather than big names.

The overall picture is that analysts consistently emphasize that single-day flow data isn't very reliable as a short-term price signal; what matters is how these flows form a pattern over days and weeks. For those following ETF flows through Gate, the data for the rest of this week will be the most important indicator to clarify whether the price recovery at the beginning of July found real traction on the institutional side, or whether it was merely a reaction in the spot market.