Key Takeaways
- • US spot Bitcoin ETFs recorded $223.5 million in net inflows on Thursday, marking the first daily inflow exceeding $200 million since early May and ending a 10-day withdrawal streak.
- • Fidelity's FBTC fund dominated the recovery with $166 million in inflows, accounting for roughly three-quarters of the day's total, while ARK's ARKB attracted $91.8 million in fresh capital.
- • BlackRock's IBIT continued to hemorrhage assets with $40.4 million in outflows on Thursday, extending its losing streak to 11 consecutive trading sessions despite broader market recovery.
- • June recorded approximately $4.5 billion in net outflows across US spot Bitcoin ETFs, representing one of the weakest months since product launch, suggesting institutional capital reallocation during the recent sell-off.
- • Bitcoin climbed more than 1% over the prior 24 hours to trade above $61,000, coinciding with the renewed ETF demand and signaling potential institutional repositioning at lower price levels.
Summary
US spot Bitcoin ETFs staged a significant recovery on Thursday with $223.5 million in net inflows, data from Farside Investors shows, reversing a 10-day streak of consecutive withdrawals. This marked the first daily inflow above the $200 million threshold since early May and suggests a potential inflection point following an extraordinarily weak June for the sector.
June proved to be one of the most challenging months for US spot Bitcoin ETF products since their January 2024 launch, with the funds recording approximately $4.5 billion in net outflows during the month. Thursday's recovery, however, indicates that some institutional investors may be viewing current price levels as attractive entry points. Bitcoin's simultaneous advance of more than 1% over the prior 24 hours to above $61,000 lent support to the thesis that capital was rotating back into digital assets following the extended sell-off.
Fidelity's Wise Origin Bitcoin Fund (FBTC) led the recovery with $166 million in net inflows, representing approximately three-quarters of the day's total inflows. ARK 21Shares Bitcoin ETF (ARKB) also demonstrated institutional demand with $91.8 million in fresh capital. Smaller contributions came from VanEck's Bitcoin ETF (HODL) with $4.4 million and Valkyrie's Bitcoin Fund (BRRR) with $1.7 million in inflows. The concentration of flows in Fidelity and ARK products underscores continued institutional appetite for alternative custodians beyond BlackRock's dominant iShares Bitcoin Trust.
BlackRock's IBIT, despite the broader market recovery, continued to experience investor outflows of $40.4 million on Thursday, extending its losing streak to 11 consecutive trading sessions. This divergence in fund performance highlights a potential bifurcation in institutional demand, with capital flowing toward smaller competitors while redemptions persist at the largest player by assets under management. The pattern suggests ongoing competitive pressure in the crowded spot Bitcoin ETF landscape and shifting institutional preferences during periods of price volatility.
June proved to be one of the most challenging months for US spot Bitcoin ETF products since their January 2024 launch, with the funds recording approximately $4.5 billion in net outflows during the month. Thursday's recovery, however, indicates that some institutional investors may be viewing current price levels as attractive entry points. Bitcoin's simultaneous advance of more than 1% over the prior 24 hours to above $61,000 lent support to the thesis that capital was rotating back into digital assets following the extended sell-off.
Fidelity's Wise Origin Bitcoin Fund (FBTC) led the recovery with $166 million in net inflows, representing approximately three-quarters of the day's total inflows. ARK 21Shares Bitcoin ETF (ARKB) also demonstrated institutional demand with $91.8 million in fresh capital. Smaller contributions came from VanEck's Bitcoin ETF (HODL) with $4.4 million and Valkyrie's Bitcoin Fund (BRRR) with $1.7 million in inflows. The concentration of flows in Fidelity and ARK products underscores continued institutional appetite for alternative custodians beyond BlackRock's dominant iShares Bitcoin Trust.
BlackRock's IBIT, despite the broader market recovery, continued to experience investor outflows of $40.4 million on Thursday, extending its losing streak to 11 consecutive trading sessions. This divergence in fund performance highlights a potential bifurcation in institutional demand, with capital flowing toward smaller competitors while redemptions persist at the largest player by assets under management. The pattern suggests ongoing competitive pressure in the crowded spot Bitcoin ETF landscape and shifting institutional preferences during periods of price volatility.
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