U.S. Spot Bitcoin ETFs Shed $527 Million Over Four Sessions as Outflow Streak Extends

U.S. spot Bitcoin ETFs posted a combined net outflow of about $527 million across the four trading sessions through July 2, extending the category's weekly losing streak to eight straight weeks, CoinDesk reported. The run marks the longest stretch of weekly outflows since the products launched, underscoring that institutional demand for Bitcoin exposure has yet to materially recover. July 2 delivered a one-day reprieve. Spot Bitcoin ETFs took in roughly $221.7 million in net inflows, snapping a 10-trading-day outflow streak that had pulled nearly $2.7 billion from the group. The single-session rebound was not enough to flip the broader four-day tally back to positive, as earlier redemptions kept the period in net outflow territory. BlackRock's iShares Bitcoin Trust (IBIT) remained a key drag. IBIT recorded about $40.4 million in net outflows on July 2, pushing its redemption streak to 11 consecutive trading days. Farside data show IBIT saw outflows on each session from June 29 to July 2. Given IBIT's size and liquidity, its persistent redemptions have amplified the impact on industry-wide flows. Some competing funds drew inflows over the same window, but not at a scale sufficient to offset IBIT's pressure. Market attention has shifted from whether a one-day bounce occurred to whether major products can attract coordinated inflows. Ethereum spot ETFs showed a similar pattern. The U.S. Ethereum spot ETF complex stayed in weekly net outflow despite posting two straight days of inflows on July 1 and July 2. BlackRock's ETHA added about $29.7 million on July 2, lifting the group into the green for the day, though the gains did not erase earlier losses. Elsewhere, ETFs tied to Hyperliquid logged roughly $4.3 million of net inflows from June 29 to July 2, keeping the group positive for the week. The total was well below the prior week's level, suggesting that while capital is still moving into smaller crypto-linked ETFs, risk appetite has cooled. Even as ETF flows stayed negative, Bitcoin rebounded from below $58,000 during the week and reclaimed $61,000. CoinDesk cited softer U.S. employment data and a comparatively dovish Federal Reserve stance as supportive factors. On-chain signals pointed in a different direction. The report said that during June's heavy ETF outflow period, large Bitcoin wallets collectively increased holdings by about 270,000 BTC. The divergence highlights a split market: ETF investors continued to cut exposure while some large on-chain holders accumulated into the pullback.