U.S. spot Bitcoin ETFs posted their first positive week since May, while spot Ethereum ETFs also moved back into net inflow territory, according to Decrypt’s Morning Minute newsletter written by Tyler Warner. Decrypt noted that the analysis and opinions in the newsletter are Warner’s own and do not necessarily reflect the publication’s views.
Bitcoin and Ethereum ETFs turn positive
U.S. spot Bitcoin ETFs brought in roughly $197 million on a net basis last week after losing $527 million the week before. Spot Ethereum ETFs followed the same direction, recording about $84 million in net inflows after a small net outflow in the previous week. Combined, the two ETF groups took in about $282 million.
Bitcoin ETF flows started strong, with $265.7 million in net inflows on Monday and $21.5 million on Tuesday. The trend reversed midweek during the Iran escalation, with $84.9 million in net outflows on Wednesday and $95.3 million on Thursday, before ending the week with a $90.4 million inflow on Friday.
BlackRock’s iShares Bitcoin Trust (IBIT) led buying on both positive days, adding $209.4 million on Monday and $86.8 million on Friday. The newsletter said IBIT had been the biggest source of June’s record outflows, making its return to net buying notable.
Bitcoin rebounded to $64,000 during the week on the back of those flows, then slipped back to just under $63,000 overnight. The report said Tuesday’s CPI release is the last major data point before the July 28-29 FOMC meeting.
Crypto prices soften after overnight selloff
Major cryptocurrencies were down 1% to 3% after overnight selling. BTC fell 2% to $63,000, ETH slipped 1% to $1,780, SOL declined 1% to $76, and HYPE dropped 3% to $65.
Among the day’s stronger movers, PUMP rose 8%, BCX gained 7%, and ADI added 7%. On a weekly basis, ARB climbed 18% and ZEC rose 15%.
Macro, protocol updates, and tokenized stocks
Outside crypto, oil was up 3.5% at $74, while gold fell 1% to $4,070. Stock futures were lower as the Iran war escalated again, with the Dow flat and the Nasdaq down 0.9%.
The report also said Bitcoin’s BIP-110 soft fork faces an early August deadline, with miner support at zero. The proposal, which would cap non-financial data on the chain, has never attracted more than 1% support, according to the newsletter.
Meta’s chief data officer described agentic commerce as a potential “next tier of business” for the company and said stablecoins are central to a future without physical wallets. More than 1 million weekly active businesses are already using Meta’s AI agents, the report said.
Robinhood Chain, NEAR, Zcash, and Backpack
Decrypt also highlighted more than $2 billion in DEX volume on Robinhood Chain over the weekend, along with more than 800,000 active addresses.
NEAR activated its v2.13.0 mainnet upgrade, adding support for post-quantum signatures, automatic shard scaling, and a redesigned gas payment system.
Zcash confirmed July 28 as the date for its Ironwood upgrade, which is meant to fix the Orchard shielded-pool counterfeiting issue that caused ZEC to crash last month.
Backpack launched 24/7 trading for tokenized U.S. stocks. SpaceX, Micron, and SanDisk are backed by real shares on Solana, while tokenized shares of SK Hynix went live on Telegram Wallet, Backpack, and Ondo Finance.
Meme coins and NFTs split
Meme coin leaders were mostly lower for the week, down 5% to 10%. DOGE fell 6%, SHIB lost 4%, PEPE gained 1%, PENGU dropped 11%, TRUMP fell 7%, and BONK declined 17%.
Robinhood Chain meme tokens rebounded after a weekend selloff. Cashcat fell 6% to $160 million, Juggernaut rose 50% to $15 million, Hoodrat gained 45% to $12 million, and RMI climbed to $7 million after a 220x move. On Solana, ANSEM rebounded 25% to $250 million, while TripleT rose 20% and febu gained 60%.
NFT leaders were mixed. CryptoPunks were flat at 32.4 ETH, BAYC fell 4% to 8.9 ETH, Pudgy dropped 3% to 4.4 ETH, and Hypurr’s lost 6% to 287 HYPE. Murakami Flowers gained 23% and Squiggles rose 13%. Among new Robinhood NFT sets, Robbin Hood Babies jumped 160% and Onchain Hoodies gained 27%.