BlackRock IBIT sees $773M outflow; bitcoin ETFs shed $527M
BlackRock’s IBIT lost $772.6 million in the week to July 2, leaving spot bitcoin ETFs with $527 million in net redemptions and marking an eighth straight week of outflows.
BlackRock’s IBIT recorded a $772.6 million outflow in the shortened trading week from June 29 to July 2, the largest single-fund decline among spot bitcoin exchange-traded funds. The outflow left the bitcoin ETF complex with $527 million in net redemptions for the week, the eighth consecutive week of withdrawals for spot bitcoin funds.
Several bitcoin ETFs posted inflows that partially offset IBIT’s losses. Ark & 21Shares’ ARKB and Fidelity’s FBTC each added roughly $101.9 million and $100.9 million, respectively. Morgan Stanley’s MSBT drew $37.1 million. Smaller inflows came to Grayscale’s Bitcoin Mini Trust ($13.4 million), Vaneck’s HODL ($10.3 million), Invesco’s BTCO ($5.4 million), Franklin’s EZBC ($3.5 million) and Valkyrie’s BRRR ($1.7 million). Grayscale’s GBTC recorded a $27.7 million outflow for the week.
Daily flows showed heavy early-week redemptions in bitcoin ETFs: about $231.1 million on Monday, $222.6 million on Tuesday and $294.6 million on Wednesday. Activity shifted on Thursday, when the bitcoin ETF complex recorded a $221.7 million inflow, the largest single-day addition since May 5 and the first positive session after a 10-day outflow stretch.
Ether spot ETFs logged $13.67 million in net outflows for the week, their eighth straight weekly redemption. Ether products lost $30.04 million on Monday and $27.60 million on Tuesday, then added $14.89 million on Wednesday and $29.08 million on Thursday. Renewed demand for BlackRock’s ETHA contributed to the midweek and late-week gains.
Several altcoin-focused spot ETFs attracted new capital. Spot XRP ETFs collected $17.19 million for the week, led by a $15.34 million inflow on Monday and a $6.55 million addition on Thursday. Spot Solana ETFs added $5.75 million, and HYPE-branded spot ETFs recorded $4.32 million in inflows over the period.
Spot crypto ETFs hold the underlying tokens directly and provide investors exposure to price changes without requiring direct custody of the assets. For the week ending July 2, bitcoin and ether ETFs ended with net outflows while select altcoin products recorded net inflows.
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