U.S. Spot Bitcoin ETFs Pull In $854M, Best Weekly Inflow Since Mid-April
AI Market Summary
U.S. spot Bitcoin ETFs posted $854m of net inflows, the strongest week since mid-April, led by BlackRock's IBIT ($694m) and Fidelity's FBTC ($116m). Persistent buying despite Bitcoin's YTD drawdown signals resilient institutional demand. BlackRock also highlighted weakening correlation with U.S. equities, reinforced by relative outperformance during July's AI-sector selloff, supporting BTC's diversification narrative and improving near-term risk appetite.
Impact level
● High
Affected assets
BTC/USDT-1.42%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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Odaily Planet Daily reports that BlackRock's Head of Digital Assets, Robert Mitchnick, said Bitcoin sentiment has improved modestly over the past month, while its correlation with U.S. equities has continued to ease. He argued this trend supports Bitcoin's role as a diversification tool and a hedge against tail risk. During the sharp July correction in the AI sector, Bitcoin materially outperformed, underscoring the decoupling thesis. Even with ETF-related buying pressure persisting amid weak broader performance—down nearly 30% year to date and about 50% from a year ago—investors kept adding exposure. U.S. spot Bitcoin ETFs took in $854 million last week, marking their strongest weekly inflow since mid-April. BlackRock's IBIT led with $694 million, more than 80% of the total, while Fidelity's FBTC drew $116 million.
