According to BlockBeats, on July 27th, the US spot Bitcoin ETF saw net inflows for the third consecutive week, marking the first time since early May that it has achieved three consecutive weeks of gains. However, due to outflows before the weekend, the scale of this round of inflows slowed significantly.

For the week ending July 24, US-listed spot Bitcoin ETFs saw a net inflow of $33.79 million. This follows inflows of $197 million and $75.67 million in the previous two weeks.

Data shows that on July 23 and July 24, Bitcoin ETFs recorded net outflows of approximately $225.2 million and $240.1 million respectively, ending a seven-day streak of inflows. BlackRock's IBIT product accounted for the majority of the outflows, approximately $415 million.

Market analysts believe that institutional funds are flowing back into Bitcoin ETFs, but demand remains weaker than during the bull market. Crypto data firm BRN stated that after large outflows in May and June, the market entered a recovery phase in July, but institutional investors remain cautious.

In terms of price, Bitcoin rose above $66,500, a high since July, on Tuesday before falling back due to profit-taking and weakness in US tech stocks, dropping below $64,000 by the end of the week. The Nasdaq 100 index was dragged down by declines in chip stocks, further impacting the performance of risk assets.

According to BlockBeats, on July 27th, data from CoinDesk Research showed that the crypto market has experienced continuous capital outflows since June, with a combined net outflow of nearly $1 billion across 77 global exchanges. Meanwhile, as of early July, Binance still recorded a net inflow of $36.9 million, becoming one of the few centralized exchanges to maintain a net inflow of funds.

During periods of heightened market volatility, users are paying more attention to the asset reserves, liquidity, and risk management capabilities of trading platforms. Binance USDT and USDC both maintain reserve ratios above 100%, and their reserve status is publicly verifiable; their approximately $1 billion SAFU security fund is also held in publicly verifiable on-chain wallets.

Furthermore, despite the overall decline in market trading volume, Binance still maintains approximately 24% of the spot market share, 36% of the perpetual contract market share, and approximately 55% of the centralized trading platform reserve assets.

According to BlockBeats, Changxin Technology debuted on the STAR Market on July 27th, closing up 465.82% at 49 yuan per share on its first day of trading, with an intraday high of 535.45%. Based on the issue price of 8.66 yuan per share, a single winning bid (500 shares) would yield a floating profit of approximately 20,200 yuan.

According to offline placement data, a total of 5,507 products from 100 public fund managers and 2,458 products from 112 private funds were allocated shares of Changxin Technology, with approximately 1.251 billion shares and 161 million shares allocated respectively.

Among them, public funds received a total allocation of approximately RMB 10.829 billion, with 69 institutions receiving allocations exceeding RMB 10 million, and 18 joining the "RMB 100 Million Club." E Fund Management received the largest allocation, with a floating profit exceeding RMB 6.8 billion on the first day of listing; Southern Asset Management and ICBC Credit Suisse Asset Management ranked second and third, respectively.

In the private equity sector, the total allocation amounted to approximately RMB 1.397 billion, with 25 private equity firms receiving allocations exceeding RMB 10 million. Four institutions—Jiukun Investment, Ningbo Huanfang Quantitative, Yanfu Investment, and Century Frontier—each received allocations exceeding RMB 100 million. Notably, Jiukun Investment saw a floating profit exceeding RMB 600 million on its first day of trading.

Multiple institutions remain optimistic about the AI industry chain. Guotai Fund believes that Changxin Technology's listing is expected to accelerate capital expenditure, driving growth in demand for semiconductor equipment and materials. The expansion of AI computing power and domestic substitution remain long-term drivers of the industry. Xuanyuan Investment, Chongyang Investment, and other institutions also stated that they remain optimistic about the AI industry chain and technology companies with core competitiveness in the medium to long term.