Spot Bitcoin ETFs Pull In $79M on July 16, With BlackRock's IBIT Leading

U.S. spot Bitcoin ETFs extended their recent streak of inflows on July 16, logging $79.15 million in net subscriptions, while spot Ethereum funds moved in the opposite direction with $28.04 million in net redemptions, according to SoSoValue. Flows into Bitcoin products were concentrated in a handful of names. BlackRock's iShares Bitcoin Trust (IBIT) led with $33.44 million, followed by Fidelity's Wise Origin Bitcoin Fund (FBTC) at $30.73 million. Bitwise's BITB added $14.98 million. The remainder of the lineup was unchanged on the day, with zero net flow reported for Grayscale's GBTC and BTC, Ark's ARKB, VanEck's HODL, and funds from Valkyrie, Morgan Stanley, Franklin, Invesco, WisdomTree, and Hashdex. IBIT continues to dominate the category since launch. Its cumulative net inflows stand at $60.35 billion, far ahead of Fidelity's FBTC at $9.97 billion; no other spot Bitcoin ETF has surpassed $3 billion in cumulative inflows. On July 16, IBIT also recorded the largest single-day increase in bitcoin holdings among peers, adding 521.05 BTC. FBTC added 478.70 BTC and BITB added 233.40 BTC. Grayscale remains the major exception on cumulative flows. GBTC has posted $27.33 billion in net outflows since converting to an ETF, while Grayscale's newer, lower-fee BTC fund has attracted $2.56 billion in net inflows. Ethereum ETFs saw a weaker session. Spot Ethereum funds posted $28.04 million in net outflows on July 16, snapping a short run of inflow days. Bitwise's ETHW was the lone bright spot, taking in $2.28 million, the largest single-day inflow among Ethereum products. Despite the pullback, cumulative net inflows for spot Ethereum ETFs were $11.04 billion, with total net assets around $10.10 billion. Across all spot Bitcoin ETFs, cumulative net inflows reached $51.22 billion as of July 16, and total net assets stood near $77.72 billion. Trading value for the day was $997.90 million, easing below $1 billion after several sessions earlier in the month that topped $1.5 billion. Recent daily flows have been volatile: July 15 saw $107.80 million of inflows and July 14 added $181.08 million, while July 13 recorded $424.66 million of outflows. That swing left the weekly figure for the period ending July 16 slightly negative at $56.62 million, even with three positive days during the week. Bitcoin ETFs continue to draw steady interest, with IBIT setting the pace. Ethereum products face a tougher backdrop, where a single down session can erase part of a modest weekly gain.