Bitcoin ETFs see $223M net inflow after 10-day outflow streak
The first positive flow day in nearly two weeks suggests institutional investors may be warming back up to Bitcoin after billions in recent redemptions.
After ten consecutive days of investors heading for the exits, US spot Bitcoin ETFs finally caught a break. The funds collectively pulled in roughly $223.5 million in net inflows on July 2, snapping one of the more painful streaks these products have endured since launching in January 2024.
The bleeding that preceded the bounce
The broader outflow period stretching across May and June included a record 13-day stretch during which roughly $4.4 billion was pulled from spot Bitcoin ETFs.
The outflows coincided with a notable correction in Bitcoin’s price, which dropped toward the $59,000 to $64,000 range during the worst of it.
The bigger picture still looks strong
Since their debut in January 2024, these funds have accumulated cumulative net inflows exceeding $51 billion.
BlackRock’s IBIT continues to command the largest share of assets under management. Fidelity’s FBTC and Grayscale’s GBTC round out the top tier, though flows remain heavily concentrated among just a handful of issuers.
This concentration matters for investors. When BlackRock’s IBIT has a big inflow day, it can single-handedly flip the aggregate number from red to green. Conversely, when IBIT sees redemptions, the rest of the field often can’t compensate.