US spot bitcoin ETFs extend record outflow streak to eight weeks
A $221.72M July 2 inflow broke a 10-session bleed, but BlackRock’s IBIT still posted an outflow.
U.S. spot bitcoin ETFs logged about $527 million in net outflows across the four trading sessions ending Thursday, July 2, extending the category’s weekly outflow streak to a record eight straight weeks. A late-week $221.72 million inflow snapped a 10-session outflow run, even as BlackRock’s IBIT continued to see redemptions.
Key Takeaways
- U.S. spot bitcoin ETFs recorded about $527 million in net outflows over the four sessions ending Thursday, July 2, pushing the weekly outflow streak to a record eight straight weeks.
- A $221.72 million net inflow on July 2 was the largest single-day intake since May 5 and ended a 10-session outflow stretch totaling about $2.71 billion.
- BlackRock’s IBIT was the lone fund to post an outflow on July 2 (-$40.43 million), extending its redemption streak to 11 straight days and roughly $2.2 billion of cumulative outflows.
- Spot ether ETFs posted a $13.67 million net outflow for the week ending July 2, matching their prior record of eight consecutive weekly outflows.
Bitcoin ETF Flows: Record Eight-Week Outflow Streak Despite a Late-Week Reversal
U.S.-listed spot bitcoin ETFs finished the holiday-shortened week ending Thursday, July 2 with about $527 million in net outflows, based on SoSoValue flow data. That extended the complex’s weekly outflow streak to eight straight weeks, the longest run since launch.
The pace of selling did ease versus the prior week’s $1.79 billion net outflow, but the broader signal stayed the same. One strong day did not change the weekly math, and the record streak still advanced.
Year to date, the spot bitcoin ETF complex has lost a net $5.53 billion.
Thursday’s $221.72M Inflow Snaps the 10-Session Bleed
Thursday, July 2 printed a $221.72 million net inflow across U.S. spot bitcoin ETFs, the largest single-day inflow since May 5. The move ended a 10-session outflow streak that had pulled about $2.71 billion from the category.
Flow leadership was concentrated. Fidelity’s FBTC led the day with $165.96 million of net inflows, while ARK and 21Shares’ ARKB added $91.84 million.
The setup reads like an interruption rather than a confirmed reversal. The week still closed net negative and extended the record eight-week outflow streak, which keeps the burden on bulls to prove the inflow was more than positioning into a long weekend.
IBIT Breaks From the Pack: 11 Straight Days of Redemptions
BlackRock’s IBIT diverged sharply from the complex on Thursday. It was the only spot bitcoin ETF to post an outflow on a day the category took in net inflows, losing $40.43 million.
That extended IBIT’s redemption streak to 11 straight days, with roughly $2.2 billion leaving over the run. IBIT held $44.91 billion in net assets versus $59.99 billion in cumulative inflows since launch.
For traders, the key point is dispersion. The complex can show a headline reversal while the largest fund continues to bleed, which suggests flows are not moving uniformly across issuers and may be driven by fund-specific positioning rather than a clean “risk-on” switch.
Signals to Watch for US spot Bitcoin ETFs extend record
The first question is whether the July 2 reversal can print twice. A second consecutive net inflow day would start to shift the conversation from “one-off” to “momentum,” while an immediate return to outflows would reinforce the eight-week trend.
IBIT is the other live wire. The real-time tell is the first net inflow day after 11 straight outflow sessions, and whether the cumulative draw pushes materially beyond roughly $2.2 billion.
At the weekly level, the threshold that matters is simple. Either the complex breaks the eight-week outflow streak next week or extends it to nine.
On the tape, bitcoin traded near $63,150 on Saturday after dipping below $58,000 earlier in the week to a 21-month low. That rebound happened alongside persistent ETF outflows, a reminder that price can stabilize even when the ETF flow impulse remains negative.
Spot ether ETFs add a parallel risk signal. They posted a $13.67 million net outflow for the week ending July 2, their eighth straight weekly outflow, tying the category’s prior record run from late February to mid-April 2025, also based on SoSoValue data.
Flow Momentum vs. Price Tape: What Traders Can Infer From the Divergence
I treat Thursday’s $221.72 million inflow as a sentiment catalyst, not a regime change. The week still ended with about $527 million of net outflows, and the complex is now eight straight weeks negative. If flows flip positive for a full week, that’s when the setup starts to look structural rather than narrative-driven.
The more actionable detail is the internal split. IBIT bleeding on the same day the category took in money is a clean sign of dispersion, and dispersion usually means positioning is being rotated, not rebuilt. This matters in practical terms if the complex can string together net inflow days while BTC holds above the recent sub-$58,000 low, because that would tighten the link between ETF demand and spot support.
