Bitcoin ETFs Snap $2.7B Outflow Run as Inflows Rebound

U.S.-listed spot Bitcoin ETFs saw fresh institutional buying on Thursday, posting their first daily net inflow above $200 million since early May and breaking a 10-session redemption streak. SoSoValue data put combined net inflows at $221.7 million, ending a stretch in which more than $2.7 billion was pulled from the products. The turnaround follows a bruising month: June logged $4.5 billion in net outflows, the weakest monthly showing since spot Bitcoin funds began trading in the United States. Farside Investors reported Fidelity's Wise Origin Bitcoin Fund as the main driver of the day's rebound, taking in $166 million—about three-quarters of total inflows. ARK 21Shares Bitcoin ETF also added solid inflows, while VanEck and Valkyrie attracted smaller allocations, pointing to broader demand beyond a single issuer. BlackRock bucked the trend. Its iShares Bitcoin Trust posted another day of net redemptions, extending an outflow streak that began in mid-June and bringing cumulative withdrawals to more than $2.2 billion. Bitcoin recovered above the psychological $61,000 level after briefly dipping below support earlier in the week, according to CoinGecko. Total crypto market capitalization rose 2.4% over the prior day to $2.22 trillion. Even so, Alternative.me still registered sentiment at "Extreme Fear," signaling lingering caution despite renewed buying through exchange-traded products. Bitwise Chief Investment Officer Matt Hougan said recent trading behavior suggests the market may be nearing a bottom, underscoring the ongoing institutional debate over whether the latest wave of selling has largely run its course. While firmer ETF demand and price stabilization have eased near-term pressure, continued redemptions from BlackRock's flagship product highlight uneven positioning. Flows improved beyond Bitcoin as well. SoSoValue showed U.S. spot Ether exchange-traded funds notched another session of positive flows after drawing fresh capital in the previous session. XRP-linked investment products also returned to net inflows following consecutive days of withdrawals. With the longest redemption streak in weeks now broken, attention turns to whether ETF inflows can stay positive if BTC holds above recent support—and whether BlackRock's fund flows shift, a key near-term gauge of market direction.