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BlockBeats report: On July 11, U.S. Bitcoin and Ethereum spot ETFs combined recorded a total of $281.8 million in net inflows this week, ending a trend of eight consecutive weeks of outflows since early May. Among them, U.S. spot Bitcoin ETFs recorded about $197.4 million in net inflows last week, ending an eight-week outflow period. Prior to that, cumulative outflows over eight weeks totaled about $8.26 billion, the longest consecutive outflow streak since trading began in January 2024.
Spot Ethereum ETFs recorded approximately $84.4 million in net inflows last week, also ending a streak of eight consecutive weeks of outflows. Previously, Ethereum ETFs saw about $1.2 billion in outflows over eight straight weeks, matching the longest outflow streak recorded between February and April 2025.

BlockBeats reports: On July 11, the CSRC website shows that on July 10 it updated the report on the progress of the Yangtze Memory IPO tutoring work (Phase 1). The two brokerages, CITIC Securities and CITIC Guojian, jointly dispatched a tutoring team of 31 people. The tutoring period for this phase runs from May 19, 2026 to June 30. The tutoring work will be carried out through various methods, including on-site due diligence, organizing centralized lectures, and communications on special issues.
The next stage will expand tutoring work in two areas: first, promptly coordinate with relevant intermediary institutions and the company on issues identified during the work, discuss and research to determine standardized solutions, and urge the entities being tutored to seriously implement rectification requirements. At the same time, the tutoring working group will continue to urge the company to improve its corporate governance and internal control systems, and enhance the level of standardized operation. Second, urge the company to deeply understand laws, regulations, and rules in areas such as issuance and listing and standardized operations, and to be aware of responsibilities and obligations related to information disclosure and fulfilling commitments. (Jinshi)

BlockBeats news: On July 11, Jamie Coutts, Chief Crypto Analyst at Real Vision, said that Bitcoin may be entering the late stage of the current bear market. Although the bear market has not ended yet, downside momentum has begun to weaken. The current BTC price is down about 50% from the $126,100 all-time high set in October 2025.
Coutts calls the current trend a “classic bear market,” and notes that Bitcoin’s volatility has fallen by about 50% compared with the previous cycle, suggesting this downturn may not be as severe as earlier bear markets. However, he reminds that all current trend indicators remain clearly bearish, and the market won’t mechanically repeat past cycles.

BlockBeats news: On July 11, The Kobeissi Letter said that the total assets under management of U.S.-listed ETFs has risen to a record $15.6 trillion, doubling over the past 30 months.
Since the start of this year, investors have allocated more than $1 trillion to U.S.-listed ETFs, nearing roughly twice the record level for the same period in 2025. Based on the current pace, full-year inflows are expected to exceed $2 trillion for the first time, about 33% higher than last year's historical peak.
In June alone, U.S. ETFs attracted about $193 billion in inflows—making it the second-highest monthly inflow on record. The demand for these funds is mainly concentrated in U.S. mega-cap stocks, semiconductors, AI, and Korea-related ETFs, and growth in the U.S. ETF market is accelerating.

BlockBeats message, July 11: Alex Thorn, head of research at Galaxy, posted on social media saying that the Bitcoin Policy Institute (BPI) has formally applied to the court to intervene in the highly关注ed “Noah Doe” case and will participate in the litigation as a defendant. BPI said its application is made on the basis of relevant provisions of the New York State (Civil Practice Law and Rules) and that it had never previously made a similar application to any court regarding this matter.
According to the filed documents, in its proposed answer, BPI broadly denies the main allegations in the complaint, admitting only that the plaintiff is seeking a declaratory judgment through this case. For the other allegations, BPI either denies them or states that it lacks sufficient information to form a judgment. BPI also said that the organization was established in 2021. It is a nonpartisan, nonprofit organization headquartered in Washington, D.C., focused on researching the policy and social impacts of Bitcoin and emerging currency networks, conducting research independently and without influence from industry participants such as cryptocurrency companies or trading platforms.

BlockBeats message: On July 11, tensions between the U.S. and Iran escalated sharply this week. Attacks by both sides caused the fragile ceasefire agreement, which had been holding for about three weeks, to break down. Inflation pressure driven by rising oil prices has once again heightened expectations that the Federal Reserve will tighten policy. Meanwhile, U.S. stocks largely ignored geopolitical uncertainty. The “AI trading” craze has regained momentum: the S&P 500 Index is approaching its all-time high, while both the S&P 500 and the Nasdaq notched back-to-back positive weekly closes. SK Hynix ADR surged 13% on its first day. With a fund-raising amount of $26.5 billion, it became the foreign company with the largest IPO in U.S. stock market history. Over the coming week, developments in U.S.-Iran tensions, economic data such as U.S. CPI, and remarks by Fed officials will keep Wall Street on edge. In particular, people are looking to see whether Fed Chair Walsh, under questioning in Congress, can provide more clues about the interest-rate outlook—though it is difficult to place much hope in his decision to cancel forward guidance. A preview of next week’s major macro data events is as follows: