Bitcoin ETF Inflows Rebound $222M — So Why Is BlackRock Still Bleeding?

After ten straight days of relentless withdrawals, US spot Bitcoin ETF inflows finally snapped the losing streak on Thursday — and did so convincingly. According to data from SoSoValue, these funds pulled in $221.7 million in net inflows on the day, marking the first daily figure above $200 million since early May and drawing a sharp line under a brutal stretch that had drained more than $2.7 billion from the space.

Key takeaways

• US spot Bitcoin ETFs recorded $221.7 million in net inflows on Thursday, ending a 10-day outflow streak worth over $2.7 billion.
• This was the first daily Bitcoin ETF inflow above $200 million since early May.
• Fidelity’s Wise Origin Bitcoin Fund led the rebound with $166 million, roughly 75% of total inflows that day.
• ARK 21Shares Bitcoin ETF added $91.8 million, while BlackRock’s iShares Bitcoin Trust bucked the trend with $40.4 million in net outflows.
• Despite the inflow rebound, the Fear & Greed Index remained at “extreme fear,” signaling fragile broader sentiment.

US Spot Bitcoin ETFs Post Strong Inflows After June Outflows

The scale of the reversal matters. A single-day Bitcoin ETF inflows rebound of over $220 million, coming off the back of a 10-session withdrawal streak, is not routine noise — it suggests institutional buyers stepped back in after a period of deliberate de-risking. The 10-day outflow run had become one of the more punishing sustained redemption cycles for spot Bitcoin funds since their January 2024 launch, and the fact that Thursday’s figure topped $200 million places it in the upper tier of single-session inflow days.

The catalyst was price. Bitcoin had briefly slipped below $59,000 during the weaker stretch before recovering above $61,000, which appears to have triggered renewed buying interest across the funds. The price recovery gave institutional allocators a clearer entry signal after weeks of hesitation.

June had been particularly rough. The month’s total outflows reached $4.5 billion, underscoring just how dramatically sentiment had deteriorated — and making the Thursday rebound all the more notable as a potential inflection point, even if confirmation requires more sessions.

Fidelity Leads Bitcoin ETF Inflows While BlackRock Experiences Outflows

Not every fund moved in the same direction, and that divergence tells an important story about where conviction actually sat on Thursday.

Fidelity’s Wise Origin Bitcoin Fund was the standout performer, capturing $166 million in net inflows — approximately 75% of the entire day’s total across all US spot Bitcoin ETFs. That concentration is striking. It suggests that much of the reinvestment flowed toward a specific product rather than dispersing evenly, potentially reflecting institutional preferences or portfolio rebalancing toward Fidelity’s offering.

The ARK 21Shares Bitcoin ETF came in second with $91.8 million in net inflows, a robust figure that reinforced the broader recovery signal. VanEck’s Bitcoin ETF contributed an additional $4.4 million, while the Valkyrie Bitcoin Fund attracted $1.7 million, according to Farside Investors data.

Then there was BlackRock. The iShares Bitcoin Trust posted $40.4 million in net outflows on the same day — a meaningful contrast against its peers. That daily figure is part of a larger trend: IBIT has shed over $2.2 billion since June 17 alone. For a product that dominated early inflow records after launch, this sustained redemption pressure raises genuine questions about whether large allocators are rotating out, trimming positions, or simply pausing ahead of clearer macro signals.

The split between Fidelity’s surge and BlackRock’s continued outflows is analytically significant. It implies that Thursday’s rebound was not a rising tide lifting all boats — it was selective, driven by specific fund preferences, which makes the durability of the recovery harder to assess from a single day’s data.

Wider Crypto ETF Trends and Market Sentiment

The recovery in Bitcoin-linked products was mirrored, at a smaller scale, across the broader crypto ETF space. US spot Ether ETFs recorded $29.1 million in inflows on Thursday, building on $14.9 million the previous day, while XRP ETFs returned to positive territory with $6.6 million in net inflows after two consecutive sessions of outflows.

That breadth — Bitcoin, Ether, and XRP products all posting inflows on the same day — suggests the move was not isolated to a single asset’s narrative but reflected a wider, if tentative, return of appetite across the crypto fund space.

What complicates the picture is sentiment. Despite the headline inflow numbers, the Fear & Greed Index sat at “extreme fear” on Friday, according to Alternative.me. CoinGecko data showed total crypto market capitalization rising 2.4% to $2.22 trillion, a modest gain that nonetheless indicates the capital returning to ETFs had not yet translated into broad market euphoria. The gap between fund flows and sentiment is worth watching closely — inflows can precede a sentiment shift, or they can simply reflect bottom-fishing that fades quickly if price momentum stalls.

For Bitcoin ETF observers, the more meaningful test comes in the sessions ahead. A single day above $200 million ends the streak on paper, but it takes sustained inflows — multiple days, broad fund participation, and BlackRock reversing its own outflow trend — to signal that June’s damage has genuinely been repaired rather than merely paused.

FAQ

What caused the recent rebound in US spot Bitcoin ETF inflows?

The rebound followed Bitcoin’s price recovering above $61,000 after dipping below $59,000. The price recovery appears to have triggered renewed institutional activity, supporting the return of net inflows across US spot Bitcoin ETFs after a 10-day withdrawal streak.

Which Bitcoin ETF led the inflows on the rebound day?

Fidelity’s Wise Origin Bitcoin Fund led the rebound with $166 million in net inflows, accounting for approximately 75% of total Bitcoin ETF inflows on Thursday.

Did all major Bitcoin ETFs see inflows on the rebound day?

No. While Fidelity and ARK 21Shares both posted strong inflows, BlackRock’s iShares Bitcoin Trust posted $40.4 million in net outflows on the same day, continuing a broader withdrawal trend that has seen IBIT lose over $2.2 billion since June 17.

How is overall crypto market sentiment despite the ETF inflows?

Despite the positive inflow data, broader crypto market sentiment remained weak. The Fear & Greed Index stood at “extreme fear” on Friday, suggesting that investor confidence has not yet meaningfully recovered even as institutional fund flows turned positive.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.