10-Day Nightmare Ends for Bitcoin ETFs: Fresh Capital Flows In

U.S.-based spot Bitcoin ETFs broke a 10-day negative streak, recording $221.7 million in net inflows.

The long-standing selling pressure in the cryptocurrency markets has begun to give way to optimism with fresh capital flowing into spot Bitcoin (BTC) exchange-traded funds (ETFs). Following transactions on July 2, investors showed renewed interest in the funds, officially ending an outflow streak that had persisted for nearly two weeks.

According to SoSoValue data, Fidelity (FBTC) led this recovery with $166 million in inflows. It was followed by Ark Invest and 21Shares (ARKB) with $91.8 million, while VanEck (HODL) saw a more modest inflow of $4.4 million. For funds that left behind their worst month in history with a total of $4.5 billion in outflows in June, this development is interpreted as the market rebalancing.

Outflows Continue for BlackRock Fund

While the outlook turned positive for other funds, BlackRock’s IBIT fund, the world’s largest asset manager, continued to diverge negatively. Experiencing $40.4 million in outflows on Thursday, IBIT bled capital for the 11th consecutive day. Experts evaluate this situation not as investors fleeing the market entirely, but rather as a shift toward alternative funds offering lower transaction fees.

At the beginning of July, the Bitcoin price rose from the $58,000 levels to the $61,730 range, exhibiting a 2.8% gain in value. Glassnode analysts state that long-term investors have moved back into the accumulation phase, noting an increased buying appetite particularly among wallets holding between 100 and 1,000 BTC. Much like the depth-reminiscent structure of the Bitcoin logo in blue tones in the image, the market is seeking a steady path upward from the bottom. The density of order books on exchanges and data from the options market indicate that a supportive foundation is forming for the Bitcoin price.