BlackRock Steers U.S. Spot Bitcoin ETFs Back into Positive Territory

U.S. spot Bitcoin ETFs have ended their four-session losing streak after experiencing $32.1 million in net inflows on July 29.

The inflow was primarily driven by BlackRock's iShares Bitcoin Trust ETF (IBIT), which pulled in $89.8 million, exceeding the combined outflows from Fidelity's Wise Origin Bitcoin Fund ($43.1 million) and ARK 21Shares Bitcoin ETF ($14.6 million).

However, the recovery is somewhat an illusion as the preceding four sessions saw a total of $526 million in net outflows, with July 29's inflow only recovering part of the earlier losses.

The article notes that if the next sessions provide positive readings that extend beyond IBIT or persist at the aggregate level, the issuer distribution will look different. If the other products remain flat or negative, the headline total will continue to depend on BlackRock's fund.