Bitcoin spot ETFs see $222M net inflow after 10-day outflow streak

After ten consecutive days of investors heading for the exits, US spot Bitcoin ETFs finally caught a break. The funds collectively pulled in roughly $223.5 million in net inflows on July 2, snapping one of the more painful streaks these products have endured since launching in January 2024.

That’s approximately 3,730 BTC flowing back into the funds in a single day. The day before the inflow reversal was particularly rough, with approximately 5,050 BTC worth of redemptions.

The bleeding that preceded the bounce

The broader outflow period stretching across May and June included a record 13-day stretch during which roughly $4.4 billion, or about 59,351 BTC, was pulled from spot Bitcoin ETFs.

The outflows coincided with a notable correction in Bitcoin’s price, which dropped toward the $59,000 to $64,000 range during the worst of it.

The bigger picture still looks strong

Since their debut in January 2024, these funds have accumulated cumulative net inflows exceeding $51.5 billion. That translates to roughly 636,900 BTC now sitting in ETF custody, more than 3% of Bitcoin’s total circulating supply.

BlackRock’s IBIT continues to command the largest share of assets under management. Fidelity’s FBTC and Grayscale’s GBTC round out the top tier, though flows remain heavily concentrated among just a handful of issuers.

This concentration matters for investors. When BlackRock’s IBIT has a big inflow day, it can single-handedly flip the aggregate number from red to green. Conversely, when IBIT sees redemptions, the rest of the field often can’t compensate.

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