Key Takeaways
- • US spot Bitcoin ETFs recorded $221.7 million in net inflows on Thursday, marking the first daily inflow exceeding $200 million since early May and reversing a 10-day outflow streak totaling $2.7 billion.
- • Fidelity's Wise Origin Bitcoin Fund (FBTC) dominated the rebound with $166 million in inflows (75% of daily total), while BlackRock's iShares Bitcoin Trust (IBIT)—the largest US spot Bitcoin ETF—continued bleeding with $40.4 million in outflows and a cumulative loss of $2.2 billion over an 11-session streak since June 17.
- • Bitcoin's recovery above $61,000 following a dip below $59,000 catalyzed the inflow rebound, with Bitwise CIO Matt Hougan signaling potential market bottom conditions amid "extreme fear" sentiment readings on the Fear & Greed Index.
- • June marked a severe downturn for spot Bitcoin ETFs with record $4.5 billion in net outflows for the month, indicating sustained institutional capital rotation away from the asset class before this week's recovery.
- • US spot Ether ETFs also participated in the recovery, attracting $29.1 million on Thursday following $14.9 million in inflows the prior day, suggesting broader institutional re-engagement with crypto-linked products.
Summary
US spot Bitcoin ETFs reversed weeks of sustained capital outflows on Thursday, attracting $221.7 million in net inflows according to SoSoValue data. This marked the strongest single-day intake since early May and terminated a punishing 10-day outflow streak that had depleted the funds of $2.7 billion in cumulative withdrawals. The inflow recovery coincided with Bitcoin's reclamation of the $61,000 price level after briefly trading below $59,000, signaling renewed institutional interest following a period of pronounced weakness.
The rebound was concentrated within specific fund structures. Fidelity's Wise Origin Bitcoin Fund (FBTC) led the recovery with $166 million in net inflows, representing approximately 75% of Thursday's total daily inflows per Farside Investors data. ARK 21Shares Bitcoin ETF (ARKB) followed with $91.8 million, while smaller competitors VanEck Bitcoin ETF (HODL) and Valkyrie Bitcoin Fund (BRRR) contributed $4.4 million and $1.7 million respectively. However, BlackRock's iShares Bitcoin Trust (IBIT)—the largest US spot Bitcoin ETF by assets—continued its deterioration with $40.4 million in net outflows on Thursday, extending an 11-session consecutive outflow streak since June 17 that has resulted in cumulative redemptions of $2.2 billion.
The week's inflows must be contextualized against June's exceptional weakness. US spot Bitcoin ETFs posted a record $4.5 billion in monthly net outflows in June, representing one of the most severe institutional capital withdrawals from crypto-linked products this year. This sustained pressure suggests that Thursday's rebound, while notable, may reflect tactical positioning rather than strategic institutional capitulation.
Sentiment indicators suggest fragile market conditions underpinning the recovery. The Fear & Greed Index registered "extreme fear" readings on Friday despite the inflow rebound, and commentary from Bitwise CIO Matt Hougan cautiously suggested the market could be nearing a bottom. Beyond Bitcoin, US spot Ether ETFs also attracted capital with $29.1 million in net inflows on Thursday, following $14.9 million in inflows the prior day, indicating that the recovery extended across major crypto-linked investment products.
The rebound was concentrated within specific fund structures. Fidelity's Wise Origin Bitcoin Fund (FBTC) led the recovery with $166 million in net inflows, representing approximately 75% of Thursday's total daily inflows per Farside Investors data. ARK 21Shares Bitcoin ETF (ARKB) followed with $91.8 million, while smaller competitors VanEck Bitcoin ETF (HODL) and Valkyrie Bitcoin Fund (BRRR) contributed $4.4 million and $1.7 million respectively. However, BlackRock's iShares Bitcoin Trust (IBIT)—the largest US spot Bitcoin ETF by assets—continued its deterioration with $40.4 million in net outflows on Thursday, extending an 11-session consecutive outflow streak since June 17 that has resulted in cumulative redemptions of $2.2 billion.
The week's inflows must be contextualized against June's exceptional weakness. US spot Bitcoin ETFs posted a record $4.5 billion in monthly net outflows in June, representing one of the most severe institutional capital withdrawals from crypto-linked products this year. This sustained pressure suggests that Thursday's rebound, while notable, may reflect tactical positioning rather than strategic institutional capitulation.
Sentiment indicators suggest fragile market conditions underpinning the recovery. The Fear & Greed Index registered "extreme fear" readings on Friday despite the inflow rebound, and commentary from Bitwise CIO Matt Hougan cautiously suggested the market could be nearing a bottom. Beyond Bitcoin, US spot Ether ETFs also attracted capital with $29.1 million in net inflows on Thursday, following $14.9 million in inflows the prior day, indicating that the recovery extended across major crypto-linked investment products.
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