BlackRock Dominates $225M Bitcoin ETF Reversal on July 23

The US spot Bitcoin ETFs saw $225 million in net outflows on July 23, ending a seven-session inflow streak. This reversal was largely driven by BlackRock's iShares Bitcoin Trust (IBIT), which accounted for nearly 90% of the total net outflow with a $202.5 million withdrawal.

The preceding seven sessions saw a combined $999.3 million in inflows, but the July 23 reversal erased approximately 22.5% of those additions. The eight-session window remains positive, showing a net inflow of $774.2 million.

Bitcoin itself weakened alongside the reversal, with its price ending at $64,768 on the CME CF Bitcoin Reference Rate benchmark. This decline was directionally consistent with softer ETF demand, although the causation is unresolved.