Bitcoin ETFs Shed $465M Over Two Days, Led by BlackRock's IBIT
U.S. spot Bitcoin ETFs saw net outflows for a second straight day on Friday, ending a seven-day inflow streak. Funds lost $240 million Friday after $225 million Thursday, with BlackRock’s IBIT responsible for nearly $415 million of the two-day outflow. Even so, ETFs still finished the week slightly positive, with about $34 million in net inflows. The reversal was linked to weaker macro sentiment: rising oil prices, renewed U.S.-Iran tensions, higher inflation expectations, and increased odds of a Fed rate hike. One view is that institutions were making tactical, short-term allocations rather than committing to a durable uptrend, while also trimming Bitcoin exposure. Broader markets also showed risk-off behavior, with stock funds and bond flows weakening. Bitcoin was trading around $65,300, up 1.9% on the week. Near-term sentiment remains tied to the Fed’s July 29 decision, with market odds still favoring a possible 25 bps hike.
