Bitcoin Spot ETFs See Reversal as Three-Week Inflow Streak Ends

Bitcoin spot ETFs had been attracting investors for three weeks straight, but that streak has come to an end. In the most recent trading day, U.S. spot Bitcoin ETFs recorded $61.53 million in net outflows, according to data from SoSoValue.

This reversal comes after a period of heavy inflows, which saw approximately $273 million flow into these products over two weeks in July and a further $727 million over five days. BlackRock's IBIT remains the dominant force in this product category, having accumulated roughly $62 billion in cumulative inflows since its launch in January 2024.

However, Grayscale's GBTC has continued to be a source of redemption pressure throughout the ETF era. The product launched with built-up holders who had been locked in for years and many used the ETF conversion as their exit ramp, contributing to selling pressure on aggregate flow numbers.