Bitcoin ETFs just lost their Snapstreak. 

Investors pulled money out of spot Bitcoin funds at the end of last week, breaking a seven-day stretch that brought in more than $1 billion, according to Morningstar data. Outflows on Thursday and Friday erased nearly half of those gains, but as the price of Bitcoin stabilizes, analysts expect increased inflows through the second half of the year. A major driver of those assets could be allocations from financial advisors. 

“The marginal buyer of a crypto ETF right now is probably a financial advisor,” said Matt Hougan, chief investment officer at Bitwise Asset Management. He noted that advisors who meet with clients quarterly may have been reluctant to show Bitcoin on statements…