US spot bitcoin ETFs reported net inflows of $221.7 million on July 2, ending a 10-day streak of outflows. Fidelity's FBTC led with $166 million in inflows, followed by Ark Invest and 21Shares' ARKB at $91.8 million and VanEck's HODL at $4.4 million, according to SoSoValue data. This marked the first net inflow day since June 16, following a period in which the funds experienced over $2.7 billion in total outflows. The reversal follows June's $4.5 billion in net outflows, the worst monthly performance since the ETFs launched in 2024. Analysts suggest the inflows reflect cautious rebuilding of exposure after profit-taking and macroeconomic uncertainty.
Fidelity FBTC and ARKB Lead Inflows on July 2
Fidelity's FBTC recorded the largest single-day inflow at $166 million on July 2, according to SoSoValue data. Ark Invest and 21Shares' ARKB followed with $91.8 million in inflows, while VanEck's HODL saw a smaller inflow of $4.4 million. The combined $221.7 million in net inflows represented the first positive flow day for the group since June 16.
BlackRock IBIT Records 11th Consecutive Day of Outflows
BlackRock's IBIT was the only fund to report net outflows on July 2, shedding $40.4 million. This marked the 11th straight day of net outflows for IBIT, during which approximately $2.2 billion has left the fund. On a weekly basis, IBIT has reported outflows for eight consecutive weeks. Nick Ruck, director of LVRG Research, stated that IBIT's continued outflows likely reflect strategic reallocation toward smaller or lower-fee products rather than outright bearishness, indicating a maturing market where capital is becoming more discerning across issuers.
Bitcoin Price Rises 2.8% Since July 1
Bitcoin rose from around $58,000 on July 1 to approximately $61,730, marking a 2.8% increase in the past 24 hours, according to The Block's BTC price page. The price movement coincided with the return of net inflows to spot bitcoin ETFs after an extended period of outflows.
Analysts Cite Long-Term Holder Accumulation and Market Stabilization
Glassnode analyst Chris Beamish wrote in the firm's latest report that long-term bitcoin holders have returned to accumulation after an extended period of distribution. Buying activity has broadened across wallet cohorts, including smaller holders and entities holding 100 to 1,000 BTC. Beamish cited a bid-heavy Coinbase orderbook and increasingly supportive dealer gamma positioning near current prices as key signs of stabilizing structure. Nick Ruck of LVRG Research told The Block that the crypto landscape appears to be transitioning from defensive positioning to selective optimism, driven by improving risk appetite and anticipation of broader adoption catalysts, though sustained inflows will be needed to confirm a genuine sentiment shift.
FAQ
What happened to US spot bitcoin ETFs on July 2?
US spot bitcoin ETFs reported net inflows of $221.7 million on July 2, ending a 10-day streak of outflows. Fidelity's FBTC led with $166 million in inflows, followed by ARKB at $91.8 million and VanEck's HODL at $4.4 million, according to SoSoValue data.
Why did BlackRock's IBIT continue to see outflows?
BlackRock's IBIT recorded $40.4 million in outflows on July 2, marking its 11th consecutive day of net outflows. Nick Ruck of LVRG Research stated that IBIT's outflows likely reflect strategic reallocation toward smaller or lower-fee products rather than outright bearishness.
How did bitcoin's price perform since July 1?
Bitcoin rose from around $58,000 on July 1 to approximately $61,730, marking a 2.8% increase in the past 24 hours, according to The Block's BTC price page.
