US Spot-Bitcoin ETFs Post Record Two-Day Net Outflows

US-listed spot-Bitcoin exchange-traded funds (ETFs) saw significant net outflows on July 24, marking a second consecutive trading day of withdrawals. According to data from SoSoValue, these ETFs collectively recorded $240.08 million in net outflows.

The largest contributor to this decline was BlackRock's IBIT, which accounted for over 88% of the total outflow with $212.17 million leaving the fund in a single day. Fidelity's FBTC recorded net outflows of $27.91 million, while the remaining 11 ETFs saw no changes.

Despite these short-term withdrawals, cumulative net inflows into the US spot-Bitcoin ETF market remain at $51.39 billion. BlackRock's IBIT, the largest recipient of investor money, has a net asset value of $47.2 billion and cumulative net inflows of $60.39 billion.

Bitcoin also felt the effects of institutional money pulling back, with its price falling 2.1% from a day earlier to trade in the $64,000 range. This decline comes after Bitcoin rose about 10% over the past three days and reached a high of $66,000.