Bitcoin ETFs just broke a brutal $500M losing streak, but the entire recovery is an illusion propped up by BlackRock
Summary
U.S. spot Bitcoin ETFs ended a four-session outflow streak on July 29 with $32.1 million in net inflows, but the rebound was driven almost entirely by BlackRock’s IBIT, which took in $89.8 million. That was offset by outflows from Fidelity’s FBTC ($43.1 million) and ARK 21Shares’ ARKB ($14.6 million), while the rest of the products were flat. The previous four trading sessions had seen $526 million in combined net outflows, so the July 29 inflow only partially recovered losses, leaving the five-session balance still down $494 million. The numbers show a narrow, issuer-specific recovery rather than broad-based renewed demand across the U.S. spot Bitcoin ETF market.
