BlackRock's $90M Lifeline Fuels Brief Spot Bitcoin ETF Market Recovery

The US spot Bitcoin ETF market has ended a four-session losing streak after a $32.1 million net inflow on July 29.

However, this positive reading is largely attributed to BlackRock's iShares Bitcoin Trust ETF (IBIT), which pulled in a massive $89.8 million.

This amount was enough to cover the combined outflows of $57.7 million from Fidelity and ARK funds, leaving only $32.1 million as net inflows for the market.

The previous four trading sessions saw a total of $526 million in net outflows, with July 29's inflow recovering only part of those losses, leaving the five-session period still in the red by $494 million.

It remains to be seen whether this positive trend will persist beyond IBIT or extend to other funds in the market.