Bitcoin ETF · Bitcoin · Ethereum · The Block
Bitcoin ETFs log record eighth straight negative week despite large Thursday inflow
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U.S. spot bitcoin ETFs posted about $527 million in net outflows over the four trading days ending Thursday, July 2, their eighth consecutive negative week, per The Block's analysis of SoSoValue data.
Key facts
- Bitcoin traded near $63,150 on Saturday after dipping below $58,000 to a 21-month low early in the week, 's Bitcoin Price page
- Fidelity's FBTC led with $165.96 million, followed by ARK and 21Shares' ARKB at $91.84 million
- BlackRock's IBIT, the largest bitcoin fund by net assets, was the only ETF to post an outflow Thursday, losing $40.43 million in its 11th straight day of redemptions, a run that has cost the fund
- The 10-day streak was the second-longest daily run on record, behind only a 13-session stretch from mid-May to early June that drained $4.37 billion
Summary
The record week arrived despite a strong finish. The weekly outflows did slow considerably, down from $1.79 billion the week before. BlackRock's IBIT, the largest bitcoin fund by net assets, was the only ETF to post an outflow Thursday, losing $40.43 million in its 11th straight day of redemptions, a run that has cost the fund roughly $2.2 billion. The 10-day streak was the second-longest daily run on record, behind only a 13-session stretch from mid-May to early June that drained $4.37 billion.