US Bitcoin ETFs face longest outflow streak since inception

The brief recovery on July 2, which saw $221.7 million in net inflows, proved insufficient to offset earlier losses. Fidelity’s FBTC led the rebound with $166 million in new capital, while ARK 21Shares’ ARKB added $91.8 million. However, these gains were undermined by BlackRock’s IBIT, which recorded $40.4 million in outflows, extending its own losing streak to 11 consecutive trading days.

This sustained pressure on IBIT is particularly significant given its status as the sector’s largest fund by assets. The ongoing redemption run across the industry follows a brutal June, which saw over $4 billion in net exits—the worst monthly performance since the products were approved. While Bitcoin prices managed a recovery above $61,000 following softer U.S. jobs data, institutional sentiment remains fragmented. On-chain data reveals that while ETF investors have retreated for eight weeks, large Bitcoin wallets have moved in the opposite direction, accumulating approximately 270,000 BTC during the recent price dip.

Ether ETFs mirrored this volatility, ending the period in negative territory despite positive daily flows on July 1 and 2. While Hyperliquid products maintained a positive trajectory, the cooling demand suggests a broader shift toward investor caution. Market participants are now watching to see if inflows can broaden beyond individual funds, as the sector requires more than isolated positive sessions to confirm a genuine recovery.