U.S.-listed spot Bitcoin ETFs recorded $221.7 million in net inflows on Thursday, their largest daily intake in two months, ending a 10-day streak of outflows, according to data from SoSoValue. The reversal lifted total net assets across the funds to $74.37 billion and interrupted the deepest institutional pullback since the products launched.
The fund-level breakdown reveals an unusual leadership rotation. Fidelity’s FBTC led the session with nearly $166 million in new money, while BlackRock’s IBIT — the largest bitcoin ETF — recorded a $40.43 million outflow. Ark Invest and 21Shares’ ARKB followed with $91.84 million, and VanEck’s HODL added $4.35 million. The dominant product sitting out the rebound suggests the buying came from a broader set of allocators rather than a single large mandate.
The inflow arrived after a punishing stretch. Over the prior 10 sessions, the funds bled more than $2.7 billion, capping the worst month on record: Bitcoin ETFs lost $4.5 billion in June, their largest monthly outflow since launching in January 2024. Macro data appears to have triggered the turn — a weak jobs report showing 57,000 new positions, roughly half of expectations, reshaped rate expectations and drove BTC to an intraday peak above $62,000. The asset has since extended gains toward $63,000.
Positioning data supports the case for genuine accumulation rather than short-term rotation. On-chain metrics show whales have been steadily buying since late June, with one order reaching 857 BTC near $63,600, catching ETF flows up to demand that had been building off-exchange.
The rebound remains fragile in context. Year-to-date net outflows still stand at roughly $5.4 billion, and analysts say a sustained inflow trend is needed to confirm a lasting bitcoin recovery. Historically, the strongest legs higher for BTC have coincided with inflow streaks measured in weeks, not single sessions — making the next several days of flow data the key signal to watch.
