US bitcoin ETFs break 10-day negative streak with $222 million worth of inflows
U.S. spot bitcoin (BTC) exchange-traded funds reported net inflows on Thursday, breaking a 10-day negative streak.
The spot bitcoin ETFs logged a total net inflow of $221.7 million on July 2, led by $166 million moving into Fidelity's FBTC, according to data from SoSoValue. Ark Invest and 21Shares' ARKB reported $91.8 million worth of inflows, while VanEck's HODL saw a smaller inflow of $4.4 million on the day.
This is the first time the bitcoin ETFs have reported net inflows since June 16, after which the funds entered a losing streak totaling more than $2.7 billion. In June, bitcoin funds saw $4.5 billion in net outflows, marking the worst month since their launch in 2024.
Meanwhile, BlackRock's IBIT was the only fund that saw net outflows on Thursday, shedding $40.4 million. This marks the 11th straight day of net outflows for IBIT, during which roughly $2.2 billion has left the fund. On a weekly basis, IBIT has now been reporting outflows for eight straight weeks.
"The recent net inflows into spot bitcoin ETFs suggest investors are cautiously rebuilding exposure after a period of profit-taking and macro uncertainty," said Nick Ruck, director of LVRG Research. "While BlackRock's IBIT continues to face outflows likely reflecting strategic reallocation toward smaller or lower-fee products rather than outright bearishness, this rotation indicates a maturing market where capital is becoming more discerning across issuers."
Bitcoin as the underlying asset has displayed signs of recovery since the start of the month, rising from around $58,000 on July 1 to about $61,730, marking a 2.8% increase in the past 24 hours, according to The Block's BTC price page.
Glassnode analyst Chris Beamish wrote in the firm's latest report that long-term bitcoin holders have returned to accumulation after an extended period of distribution, with buying activity broadening across wallet cohorts, including smaller holders and entities holding 100 to 1,000 BTC.
Beamish cited a bid-heavy Coinbase orderbook and increasingly supportive dealer gamma positioning near current prices as key signs of stabilizing structure.
"Overall, the crypto landscape appears to be transitioning from defensive positioning to selective optimism, driven by improving risk appetite and anticipation of broader adoption catalysts, though sustained inflows will be needed to confirm a genuine sentiment shift," LVRG's Ruck told The Block.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Crypto prices
More
