BlackRock, Fidelity Lead $265M Bitcoin ETF Outflows

U.S. spot bitcoin exchange-traded funds recorded $265.4 million in net outflows on July 31, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for $122.7 million and Fidelity’s FBTC posting $54.8 million in redemptions. Spot ether ETFs attracted about $9.03 million in net inflows on the same day, led by BlackRock’s iShares Ethereum Trust (ETHA).

The July 31 outflows reversed a strong inflow day on July 30, when U.S. spot bitcoin ETFs collectively took in $233.1 million and IBIT alone drew approximately $183.4 million. On July 30, Bitwise’s BITB added $20.7 million and Fidelity’s FBTC added $15.5 million.

IBIT’s net assets fell from $47.67 billion at the end of July 30 to $46.52 billion on July 31. The fund held an estimated 739,066 BTC. IBIT’s large share of category assets meant its subscriptions and redemptions made up a large portion of the day’s overall bitcoin ETF flows.

Spot ether funds recorded total inflows of about $9.03 million on July 31, with ETHA leading contributions. Several market participants have pointed to renewed institutional interest in ether-linked strategies and other token-linked products in recent trading days.

The July 31 flows follow a broader pattern: the second quarter of 2026 was the third consecutive quarter of net outflows for U.S. spot bitcoin ETFs. Total assets under management across the bitcoin ETF category remained near $105 billion. The largest single-day outflow for the category occurred in May, when IBIT recorded roughly $528 million in redemptions.

Market participants cited uncertainty over U.S. crypto policy, including stalled negotiations around the CLARITY Act, and bitcoin’s price weakness during the quarter as factors that some institutional allocators have raised when explaining cautious positioning. With IBIT still the largest holder by assets, its daily flow pattern continued to account for a sizable portion of category movements heading into August.