US Spot Bitcoin ETFs Post $233.1 Million in Daily Inflows, Extending Weekly Gains Amid Price Weakness
Key Takeaways
- •US spot Bitcoin ETFs recorded $233.1 million in net inflows on Thursday, marking their largest single-day total in more than three weeks.
- •BlackRock's IBIT captured $183.4 million, accounting for approximately 78.7% of all daily Bitcoin ETF inflows.
- •July has produced $437.8 million in net Bitcoin ETF inflows, potentially reversing a two-month streak of multibillion-dollar outflows.
- •US spot Ethereum ETFs attracted $13.3 million on Thursday, with outflows occurring on only five sessions throughout July.
- •Despite strong ETF demand from institutional buyers, Bitcoin remained below $64,000 as persistent selling pressure kept prices subdued across the broader cryptocurrency market.
US spot Bitcoin ETFs recorded their strongest daily inflows in more than three weeks on Thursday, attracting $233.1 million in net inflows even as Bitcoin traded below $64,000.
The surge in fund demand came during a period of weak price action for the leading cryptocurrency. Bitcoin was trading near $63,700 at press time, down approximately 1.3% over the prior 24 hours. The divergence indicated that ETF buying did not immediately translate into upward momentum across the broader spot market. Since receiving SEC approval in January 2024, the eleven US spot Bitcoin ETFs have collectively become one of the largest institutional channels for Bitcoin exposure, making daily flow data a closely tracked indicator of sentiment among registered investment advisers, hedge funds, and other regulated buyers.
BlackRock's IBIT Dominates Daily Inflows
BlackRock's iShares Bitcoin Trust (IBIT) led Thursday's inflows with $183.4 million, accounting for roughly 78.7% of the total daily amount. IBIT, the largest spot Bitcoin ETF by assets under management, has consistently captured the majority of inflows since launch. Bitwise's BITB added $20.7 million, while Fidelity's FBTC attracted $15.5 million. Other listed funds reported smaller inflows during the session. (Source: Farside Investors)
The latest inflows pushed the weekly total to $203.84 million. The funds are on track to record a fourth consecutive positive week unless Friday brings withdrawals exceeding that amount.
July Flows Reverse Two-Month Outflow Trend
US spot Bitcoin ETFs have attracted $437.8 million in net inflows during July, a monthly gain that could end a two-month streak of multibillion-dollar outflows. The May–June outflow period coincided with Bitcoin pulling back from its March 2024 all-time high above $73,000.
Institutional demand showed signs of improvement, yet Bitcoin remained under price pressure. BTC began the session near $64,500, briefly climbed above $65,200, and then lost momentum as sellers erased the short-lived rally. The price subsequently dropped below $64,500 and continued declining through the morning session.
Selling pressure persisted despite stronger ETF demand, with traders keeping Bitcoin below the $64,000 level as the market searched for support.
Ethereum ETFs Record Another Positive Session
US spot Ethereum ETFs also posted net inflows on Thursday, attracting a combined $13.3 million during the trading day. (Source: Farside Investors)
Ethereum ETFs recorded outflows on only five sessions in July, a notable shift from June, when the funds posted inflows on just four days.
The combined ETF data reflected stronger demand for both Bitcoin and Ethereum investment products. However, those inflows did not arrest short-term weakness across the wider cryptocurrency market.