Overview
- US spot Bitcoin ETFs had recorded seven straight days of net inflows totaling about $999 million before flows reversed.
- The reversal on July 23 produced $225 million of net outflows with BlackRock’s iShares Bitcoin Trust posting roughly $202 million, or about 90% of the sector’s outflow.
- After the July 23 shift, the eight-session window still shows a net inflow near $774 million according to Farside Investors, so the streak was partly undone rather than fully erased.
- Reported ETF flows reflect secondary-market trading plus authorized-participant creations and redemptions, so IBIT’s outflow represents fund-share redemptions rather than BlackRock selling corporate Bitcoin.
- Investors have rotated money out of legacy products like Grayscale’s GBTC into lower-fee spot ETFs and markets are watching whether continued ETF demand can push Bitcoin toward $70,000 given macro and derivatives risks.